GOLD: (August) : Today: Looks very very hot……Down side major support 22500 till then no problem in this commodity.. Today hold 23050 with volume………………..?
As gold in the overseas market surged, gold August contract soared up to a new all time high of Rs 22,985/futures traded in the green terrain during the morning hours of trading on Multi Commodity Exchange (MCX) Thursday. Overseas gold made a new high of USD 1,590.15/oz and currently ruled at USD 1,586.00/oz, up 3.85 and silver at USD 38.44/oz, up 0.20.
In MCX Gold most active August contract at Rs 22,929, up Rs nine and so far moved between Rs 22,985- 22,885/10gm. Volumes were 7,198 lots.
SILVER (SEPT): Today: Trend is continuing bullish and any dip on in intraday time to buy side. Today consider support 57000 and resistance 59000. It will test 60000. Weekly close above 60000 likely test………?
MCX Silver Trading September contract gained Rs 488 at Rs 57,275/kg at 11:09 AM IST and so far made intraday high and low of Rs 57,448- 56,573/kg so far. Volumes were 16,334 lots.
MCX silver mini most traded August contract moved up Rs 528 at Rs 57,322/kg and traded between Rs 57,455- 56,550/kg. Volumes were 29,392 lots.
NICKEL (July) : Today: Trading range 1050 to 1080 closely watch-out. Weakness only if close below 1025.
Nickel July contract traded at Rs 1,067.90/kg, down Rs 2.00 and moved between Rs 1,077.60- 1,063.10 per kg. Volume so far recorded 20,599 lots.
COPPER (July) : Today: Small trading range 430 to 438 … Break out this range will move one side.
Copper August contract traded at Rs 433.95 per kg, up Re 0.95 and traded in the range of Rs 435.80- 432.30 per kg. Volumes so far recorded were 41,057 tons.
CRUDE (AUGUST) : Today: We are very bearish at higher level and just what happened from the high of 4447 … Major support 4200 watch-out.
ALUMINUM (July) : Today: Decline to buy with stop loss………110.60.
Aluminum July contract traded at Rs 111.35, up Re 0.15 and so far moved between Rs 111.90- 110.80 per kg. Total volume so far recorded at 2,888 lots.
ZINC (July) : Today: Lower level support 104.50-104 range…. In coming days it will test 108.70. So buy on dips likely.
Zinc July contract ticked down Re 0.20 at Rs 105.05 and traded between Rs 105.90- 105.00 per kg. Total volumes recorded 7,636 lots.
Lead July contract currently traded at Rs 120.05/kg, down Re 0.50 and so far fluctuated in the range of Rs 121.20- 119.70 per kg. Total volumes recorded 8,894 lots.
NATURAL GAS (JULY) : Today: Watch support 190 and decline to buy side.