Commodity Market Updates & MCX Commodity Calls: 4th Oct 2012
Gold prices are expected to trade lower to the tune at 31200 – 31150. For intraday one can buy MCX Gold Commodity for the target of 31400 -31450.Silver prices are expected to trade within the range from 63000 to 61800. One can trade with silver commodity within the range.
Copper prices witnessed buying from the support at 436 -435, we expect copper commodity prices to test 443 -444 on higher end. One can trade with copper within the rangebound 436-435.
Nickel prices are holding 950 support and resisting 985 on higher end. Hence we expect a range bound move from 950 to 980. Fresh buying in nickel commodity above 985.
Lead prices are expected to trade within 121 to 117.50, one could sell MCX lead commodity on rise around 120.20 with a stop loss above 121.50.
Crude price are expected to test 4595 which is the previous bottom. One can expect a bounce in MCX Crude commodity if sustains the level above 4595.
