mcx technical levels for 22 December 2014
Mcx gold future last closed at 26996 with gain. In intraday gold hit high at 27046 while low was at 26825. Total 250-rupee intraday range and closed with gain. Here 26800 is strong support and 27000 is strong resistance. Buy if sustain above 27k.
Mcx silver future last closed at 36946 with gain. In intraday mcx, silver future made high at 37028 while low was at 36442. Total 600-rupee intraday range and closed with gain. For intraday, silver will have 36,400 as support and 37,200 as resistance. Expect rally if breaks 37200.
Mcx aluminium future is last closed at 119.8 with gain. In intraday aluminium future hit high around 121 while low was below 119. For intraday, aluminium future will have support around 118.5 and resistance at 121. Chart pattern suggesting recovery rally.
Mcx copper future last closed at 408.7 with gain. In intraday copper future made high at 410 while low was at 402. Total 8-rupee range and closed with gain. For the day 414 is strong resistance and on downside, 402 and 398 are support zones. Follow buy and accumulate strategy with strict stop loss below 398.
Mcx lead future last closed at 118.85 with gain. In intraday mcx, lead future made high around 119 while low was near 116. Total 3-rupee range and closed with gain. For intraday, mcx lead future has support around 117.5 and resistance at 120. Stay long with stop loss below 117.
Mcx nickel future last closed at 989 with gain. Nickel future in intraday-recorded high around 998 while low was around 974. Total 24-rupee intraday range and closed with gain. Here 960 is strong support and above it keeps long view for short terms.
Mcx zinc future last closed at 137.55 with gain. In intraday zinc, future made high around 137 while low was near 133. Total almost 4-rupee range and closed with gain. Mcx zinc future will have intraday support at 136 and strong resistances at 138-139. Stay long with stop loss below 136.
Mcx crude oil future last closed at 3598 with gain. In intraday crude future made high around 3618 while low was at 3470. Total 150-rupee intraday range was seen and closed with gain. Mcx crude future has intraday support at 3540 and strong resistance at 3650. Expect short covering rally ahead so above 3480 keep buy and accumulate view for short to medium terms.
Mcx natural gas future last closed at 22.3 with loss. In intraday ng future hit high around 233 while low was around 219. Total 14-rupee intraday range was seen and closed with loss on fresh shorting. Here 218-219 is previous bottom support and any daily closing below it means fresh breakdown for target 195.