mcx commodity price forecast 29 November 2013

mcx commodity price forecast 29 November 2013

MCX GOLD Dec. expiry future last closed at 30164 with gain of 169 rupees. In Intraday gold future hit high at 30210 while low was at 29911. Total almost 300 rupee intraday range and closed with gains. For today expect technical bounce back upto 30400-30500 but below 30800 overall strategy remain sell on rise. Expect high volatility on rupee action.

MCX SILVER Dec. expiry future last closed at 44125 with loss of 54 rupees. In intraday silver future hit high at 44189 while low was at 43950. Total almost 250 rupees intraday range and closed in red. Here also expect some technical bounce back rally upto 44500-45,000.

MCX ALUMINIUM Dec. expiry future last closed at 108.3 with loss of 65 paisa. In intraday aluminium future made high at 108.85 and low was at 108. Total 1 rupee intraday range and closed in red . For today watch 108 as strong support on chart.

MCX COPPER Feb. expiry future last closed at 449.1 with loss of 50 paisa. In intraday copper future made high at 450.5.  and low was at 447.6. Total 3 rupee intraday range and closed in red. For today trader watch 448 as strong support on downside.

MCX LEAD Dec. expiry future last closed at 129.3 with loss of 75 paisa. In intraday lead future made high at 129.7 and low was at 128.8. Total 1 rupee intraday range and closed in red . Here 128 is now strong support level and above it keep long view.

MCX NICKEL Dec. expiry future last closed at 842 with 3 rupee loss. In intraday nickel future made high at 843 and low was at 835.7. Total 8 rupee intraday range and closed in green. for intraday 840 will remain as strong support.

MCX ZINC Nov. expiry future last closed at 116.15 with loss of 70 paisa. In intraday zinc future hit high at 117 and low was at 115.9. Total 1.1 rupee plus intraday range and closed in red on profit booking. Above 115 keep long view for zinc future.

MCX CRUDEOIL Dec. expiry future last closed at 5783 with 2 rupee gain. In intraday crude oil future made high at 5808 and low was at 5772. Total 36 rupee intraday range and closed in green . For today above 5760 keep buy on dips view.

MCX NATURALGAS Dec. expiry future last closed at 247.2 with gains of 1.6 rupees. In intraday natural gas future made high at 247.4 and low was at 243.6 . Total 4 rupee intraday range and closed with gains. For today keep long view and expect 252-255 as upside targets.

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