Mcx gold reversal move hit 28900 tgt 29150
Mcx gold future last closed at 28869 with gain. Mcx gold is technically oversold and after achieving my downside targets seen value buying around 28300 zone. On upside 29100-29200 zone is my first reversal target zone and we already saw high ear 28900. Keep buy on dips view with stop loss for target 29150 in short terms.
Mcx silver hit 41900 target 43200
Mcx silver future last closed at 41311 with strong gain. Mcx silver after touching lows below 39000, given strong reversal on value buying as well as strong short covering. On upside my target is 43200 and we already saw high up to 41900. Mcx silver above 40400 remain buy on dips for targets 42000 and 43200 in short terms.
Mcx aluminium hit 121.8 again remain buy
Mcx aluminium future last closed at 118.6. Mcx aluminium future hit 121.8 again and given strong intraday correction towards support of 118.6. Above this level outlook remain bullish and aluminium prices might show upside targets of 122 to 127 levels in short to medium term. Below 118, expect deep correction up to 113.
Mcx copper almost hit 420 next target 435
Mcx copper future last closed at 408.85 with gain. Copper future continues its bull run and almost hit my short term upside target of 420. We saw high near 419. Mcx copper above 392 remain buy and accumulate from medium to long term view. Volatility will remain high and expect both side wild moves.
Mcx lead hit 175 target now expect correction-consolidation
Mcx lead future last closed at 167. Mcx lead is in bull market as we saw another strong short covering rally up to almost 176 rupee. Mcx lead is in super bullish trend and hit medium to long term targets. Above 161 remain buy on dips. Expect some time wise correction and consolidation and then strong up move.
Mcx nickel hit my target 820
Mcx nickel future last closed at 793. Mcx nickel future hit my next super bullish target of 820 and now next major target will be 835. Mcx nickel above 783 remain buy and accumulate for targets 820 and 835. Volatility will remain high and trading will not be so easy. Wide move means wide stop loss and high risk.
Mcx zinc hit high near 205 long term target 231
Mcx zinc future last closed at 192.65. We seeing very high volatility in this base metal near top. Almost 10 to 15 rupee daily range is not tradable on any levels. Mcx zinc given swing high near 205 while my long term super bullish target was 231. On downside 187 is support now and expect next bullish move above 194 rupee level only.
Mcx crude oil hit 3270 next target 3400
Mcx crude oil future last closed at 3262. Mcx crude oil future given swing low near 3130 but revered as expected. On upside 3270 was first target zone which got achieved yesterday. Now above 3270, my next target is 3400. Mcx crude oil is bullish and remain buy on dips. Volatility will remain high on news flows out overall outlook still bullish and trades should be on long side.
Mcx natural gas hit target 229 next target 252
Mcx natural gas future closed at 230 at day high. Mcx natural gas future hit my short term target of 229 rupee and above it next major swing target is at 252. Range are wide and supports are way downside around 220-210 rupee. Expect another strong short covering rally above 229 rupee if sustain. My medium term target is also at 252 so expect this level in December to January series.