MCX Market is on bullish trend with a consolidate movement
in all top commodity. There is a sudden rising on MCX copper demand for future delivery.
At MCX for future delivery copper price rose by more than 1 % and touch an intraday
high of 425.20 with a low of it opening position. Similar trend is watched on
global copper at LME which traded above $6978 tones.
A mild correction are
seen in base metal, MCX copper, nickel, lead all traded in green side from its
opening position. On intraday trade MCX lead and zinc trading at good side after
getting a slow start, today Lead price open at 124.50 and touched an intraday
high of 126.10. Zinc are in good
position right now to trade a good positive smell are comes through it for
medium long term. Meanwhile nickel and aluminum are watched in positive side
but its demand is carry on with a small gap which forces it to trade in lower
side. On evening trade base metal expected to carry on with same trend in upper
side.
FUTURE BUY NATURAL GAS JULY ABOVE 220 TGT 222, 225, 230
STOPLOSS 210
SELL GOLD AUGUST 26120 TGT 26050, 25950, 25900 STOPLOSS
26370
SELL CRUDE OIL BELOW 6100 TGT 6080, 6050, 6000 STOPLOSS 6200
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