mcx pre market-copper support 310 tgt 326

Mcx commodity market premarket view 12th may 2016 Mcx commodity market premarket view 12th may 2016   Mcx Gold future bounce back from low. On downside 29650 is major support and above it keep long view. Mcx Silver also given smart bounce back. For intraday 40600 is strong support expect tgts up to 42100.   In base metals, zinc and lead as expected outperformed but now expect some profit booking here. Copper future now showing strength so expect tgt 326 with SL below 310. Nickel above 574 remain buy on dips for tgt 605. Aluminium future remain buy around 102-103.   Mcx crude oil given strong rally. Here 3105 is strong intraday resistance and 3035 is intraday support. Natural gas future is heading towards tgts 152 and 162 support is at 139.

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Pramod Baviskar

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