commodity forecast for 25 june 2013
bullion commodity forecast
mcx gold aug expiry future last closed at 26749 with loss of 271 rupees.in intraday mcx gold future made high near 27000 while low was near 26650.total 350 rupee intraday range and selling continues.here on rupee volatility and comex fall expect much lower level so for intraday below 26900 hold selling view for target 26600 and then 26450 in intraday.
mcx silver jul expiry future last closed at 40870 with loss of 716 rupees.in intraday mcx silver future made high at 41334 while low was 40570.total almost 800 rupee intraday range and selling pressure continues.here 40k is as support and if fall below that then go short again and keep target at 38k with stoploss on upside.volatility remain high so not so easy trading!!
metal commodity forecast
mcx aluminium jun expiry future last closed at 103.7 with loss of 1.2 rupee.in intraday mcx aluminium future made high at 104.65 while low was near 103.3.almost achieved 103 target and now 103 will act as support.below this 101-100 will be next target zone.on upside 105.5 remain as strong resistance.
mcx copper jun expiry future last closed at 401 with 7 rupee loss.in intraday mcx copper future made low near 394 while intraday high was near 407.total 13 rupee intraday range and achieved 398 and 395 targets.here below 408 hold short view or sell on rise view for target 395 to 390 on downside.
mcx lead jun expiry future last closed at 119.8 with loss of 1.25 rupee.in intraday mcx lead future made high near 121 while low was near 118.5.total 2.5 rupee intraday range and as expected heading towards 117-116 zone.here below 122.5 hold sell on rise view and expect 117 and below levels as targets.
mcx nickel jun expiry future last closed at 817 with loss of 20 rupees.in intraday mcx nickel future made high near 836 while low was near 814.total 22 rupee intraday range and heading towards 800 levels.here for intraday below 824 hold sell view and expect 810-800 levels as targets.
mcx zinc jun expiry future last closed at 107.35 with loss of 1.15 rupees.in intraday mcx zinc future made high at 108 while low was near 106.total 2 rupee range and downtrend continues.here for intraday below 108.5 hold sell view for target near 106 and even below.
energy commodity forecast
mcx crude oil jul expiry future last closed at 5711 with gains of 98 rupees.in intraday mcx crude oil future made low at 5570 while high was at 5722.total 150 rupee rally from bottom and heading towards new highs.here expect rally to continue with small correction as nymex crude given sharp reversal signal.here expect 5900-6000 levels in medium terms.5665 is intraday support.
mcx natural gas jul expiry future last closed at 226.3 with loss of almost 4 rupees.in intraday mcx natural gas future made high near 231 while low was near 226.here correction and consolidation continues and must used for long accumulation with stoploss.on upside still expecting 240+ levels as targets.