MCX Gold
Prices scaled to new life high in a strong rally, after they broke-out from a consolidation range above 29,450. We have always maintained our bullish view on the metal & we could see more upside in the short-term. Prices now holds strong supports at 29400-29450 (Previous Resistance) and the long-term SMA’s i.e. 28790 (50-day SMA), 28470 (100-day SMA) and last at 28200 (200-day SMA).
MCX Silver
Silver has breached crucial Resistance at 55150 Trend is expected to turn Positive & can Test levels of 57500 & 60000 (in short-term) and could move towards 65000 (in long-term). (Support/ Stop for Reversal holds below 52800). Advised to Accumulate on dips.
MCX Copper
Holds strong resistance at 411.5-412 (200-day SMA)… next only at 426.5 (100-day SMA) and 427.5 (50-day SMA). Prices below 407 (on closing basis), can Test levels of 380 & 350. copper MCX June contract at dips close to Rs 408 per kilogram and dips further to Rs 406 per kilogram looking for a target of Rs 413 per kilogram and beyond that to Rs 414 per kilogram with a stop loss of Rs 402 per kilogram.
Free Commodity Tips For Today
- MCX Gold August : Buy around 30000 levels with a stop loss placed below 29900 levels for targets of 30200 levels.
- MCX Silver July : Buy around 54700 levels with a stop loss placed below 54400 levels for targets of 55100 levels.
- MCX Crude June : Buy around 4710 levels with a stop loss placed below 4660 levels for targets of 4850 levels.
- MCX Natural Gas June : Sell below 135 levels with a stop loss placed above 139 levels for targets of 129 levels.
- MCX Copper June : Buy around 409 levels with a stop loss placed below 405 levels for targets of 414 levels.
- MCX Nickel June : Buy around 890 levels with a stop loss placed below 875 levels for targets of 920 levels.
- MCX Lead June : Buy around 106 levels with a stop loss placed below 105 levels for targets of 108 levels.
- MCX Zinc June : Buy above 105 levels with a stop loss placed below 104 levels for targets of 106.50 levels.
