Wednesday, June 26, 2013

Evening MCX trend || active intraday mcx call || commodity update for today

Commodity market is full on bearish node, bullion show a huge depreciation on morning trade at Multi commodity exchange. On intraday trade bullion fall by more than -2000 point together in today trade at domestic MCX market.  Today gold prices open at 26535 and touch an intraday low of 25758 against its last close of Rs 26559. Spot gold fell by 1.4 percent to $1258.54 an ounce, while Comex gold fell to $1254.6 a 3 year low since September 2010.  More depreciation is experienced on intraday trade at MCX in gold and silver in today trade. Strong US economic data and sluggish demand result this destruction on intraday trade.  On evening trade more depreciation in might be watched while some correction is looked on today trade before closing.


If we talk about other MCX commodity a mixed trend are seen on Wednesday morning session. Crude oil for future delivery open at 5682 at MCX and show a mixed trend by touch a high of 5722 and low of 5653. In evening crude oil experienced with a same trend looking to positive side with a small downtrend at MCX.


In other energies commodity mentha oil seem to recover on intraday trading after 7 pm, at MCX for future delivery it traded towards negative side but on evening trade it looks with a volatile movement due to change in global data.


While talking about lead, copper and nickel are all trading below marking level, MCX copper for future delivery trading below its opening position at 402.40 and looking to trade with a same trend on MCX meanwhile a positive data must be seen in tomorrow trend. In other base metal zinc and aluminum are trading in positive side with a small correction in yesterday position.

MCX Aluminum for future trade trading above 104.25 while a zinc above   

108.25. More increment is looking as correction in Indian currency. All most traded metal are fall by a sharp edge and predicted to increment in future trading session.



Buy copper June above 402.50 tgt 403, 405, 407……sl 394


Buy nickel June above 824.50 tgt  826, 829, 834…sl  813


Sell mentha oil June below 991 tgt 985, 980, 970……………sl 1015


Buy zinc June above 108.50 tgt 108.75, 109, 109.50………….sl 107


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