MCX Commodities outlook for 27 November 2013

MCX Commodities outlook for 27 November 2013

MCX GOLD Dec. expiry future last closed at 30118 with loss of 53 rupees. In Intraday gold future hit high at 30444 while low was at 30077. Total almost 350 rupee intraday range and closed with loss. For today keep short view and expect downside upto 29800. Rupee factor only can change domestic prices trend.

MCX SILVER Dec. expiry future last closed at 44489 with loss of 11 rupees. In intraday silver future hit high at 45124 while low was at 44361. Total almost 800 rupees intraday range and closed in red. For today trader keep sell on rise view and expect downside target upto 43800.

MCX ALUMINIUM Nov. expiry future last closed at 108.2 with flat gain. In intraday aluminium future made high at 109 and low was at 108. Total 1 rupee intraday range and closed in green. For today expect bounce back upto 109-109.5 on rupee weakness.

MCX COPPER Nov. expiry future last closed at 443.5 with loss. In intraday copper future made high at 445.3  and low was at 442.2. Total 3.5 rupee intraday range and closed in red. For today trader below 448 keep sell on rise view.

MCX LEAD Nov. expiry future last closed at 129.8 with 50 paisa gain. In intraday lead future made high at 130.15 and low was at 129.05. Total 1 rupee intraday range and closed in green. Here expecting outperformance and higher levels upto 132-133.

MCX NICKEL Nov. expiry future last closed at 837.9 with 4 rupee loss. In intraday nickel future made high at 845.9 and low was at 835.3. Total 11 rupee intraday range and closed in red . Below 840 expect very bearish downside move upto 780.

MCX ZINC Nov. expiry future last closed at 116.5 with loss of 75 paisa. In intraday zinc future hit high at 117.45 and low was at 116.25. Total 1 rupee plus intraday range and closed in red on profit booking. For today expect bounce back upto 118 on rupee weakness.

MCX CRUDEOIL Dec. expiry future last closed at 5892 with 2 rupee drop. In intraday crude oil future made high at 5942 and low was at 5876 . Total 65 rupee intraday range and closed in red on last hours selling. For today expect bounce back upto 5950 on rupee weakness.

MCX NATURALGAS Dec. expiry future last closed at 239.9 with loss of 70 paisa. In intraday natural gas future made high at 243.9 and low was at 238.8 . Total 4 rupee intraday range and closed in red on correction. For today keep long view and above 234 support zone stay long.

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Pramod Baviskar

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