commodity forecast for 4 july 2013
bullion commodity forecast
mcx gold aug expiry future closed at 26275 with gains of 368 rupees.in intraday mcx gold future made low near 26k while high was above 26400.total 400+ rupee rally as rupee dips to lows.here volatility remain concern and for tomorrow buy near 26k only with stoploss for target 26200+.
mcx silver jul expiry future last closed at 40999 with gains of 1100+ rupees.in intraday mcx silver future made high near 411150 while low was 40120.total 1000+ rupee rally and short covering triggered and weak rupee also supporting.for tomorrow buy near 40800 with stoploss and expect 41500 to 41800 as intraday target.
metal commodity forecast
mcx aluminium jul expiry future last closed at 107.8 flat positive.in intraday mcx aluminium future made high near 109.4 while low was 107.65.total almost 2 rupee range and hovering near support.here buy near 107 with stoploss and expect 110+ in intraday,
mcx copper jul expiry future last closed at 425.5 with gains of 9 rupee gains.in intraday mcx copper future made high at 426 while low was near 418.total 8 rupee intraday range and finally breakout above range.here buy near 418 with stoploss and expect 428 as fir target on upside.
mcx lead jul expiry future last closed at 125.55 with gains of 1.3 rupee.in intraday mcx lead future made high near 126 while low was near 124.total 2 rupee range and trending slowly towards 127.here buy near support 122.5 only with stoploss and expect 126-127 as upside short term targets.
mcx nickel jul expiry future last closed at 838 flat.here in intraday we seen high near 847 while low was near 837 and closed near it.total 10 rupee range and consolidating.here buy near support 828 only with stoploss and expect 845 and then 860 as upside targets.
mcx zinc jul expiry future last closed at 112.15 with flat gains.here in intraday mcx zinc future made high near 113.5 while low was below 112.total 1.5 rupee intraday movement and closed near support.here buy near 112 with stoploss and keep target near 115.
energy commodity forecast
mcx crude oil jul expiry future last closed at 6108 with almost 180 rupee gains.in intraday mcx crude oil future made high near 6180 while low was near 5942.total 140 rupee range and on middle east crisis prices soaring towards new high and weak rupee supporting it.here most shorts still trapped and we may see another wave of sharp short covering.keep target near 6300+ with strict stoploss.
mcx natural gas jul expiry future last closed at 221.3 with gains of 3 rupee.in intraday mcx natural gas future made high at 222 while low was near 216.total 8 rupee range and trending here above support.here buy near 218 only with stoploss and keep targets at 224 and then 228.