This week a bullish trend is seen in Domestic as well as Overseas commodity market. Firstly , if we talk about most traded gold and silver prices they are jump in the market due to low currency and increment in physical buying. This week gold prices knock the door of 31000 and very soon seen above 31000. whereas on other hand silver prices flow over 51000 and touch an intraday high of 51198. coming week are very precious as for investor in which a lots of profit are going to seen on intraday trading.
This is very good time to book to profit in gold above 32000 and in silver between the range of 53000 to 56000 for long term investor. Meanwhile a short term investor can book profit at any position in upper side as per their requirement.
In coming week more increment are going to watch but in middle some bounce back might be watch if some recovery had seen in Indian Currency.
Energies commodity are looking in good position , Mcx crude oil for future delivery yesterday touch a level of 6700 and touch an intraday high of 6740 in coming session some up and down are might seen while some positive recovery also going to seen at MCX. Natural gas and mentha oil also seen in positive sid ein upcoming session. On SaturdayMentha oil is trading in negative side at 871.60 while natural gas are in positive side at 211.90.
In base metal copper , nickel , lead and zinc perform well in this week at MCX for future delivery . In upcoming week all base metal are looking in upper note and make some correction in their position.
Gold support and Resistance for Monday
S1: 30225 , S2: 30000
R1: 31350, R2: 31500
Crude oil Support and resistance for Monday
S1: 6650, S2: 6610
R1: 6825, R2: 6880
Copper support and Resistance for Monday
S1 : 455 , S2: 450
R1: 478, R2: 483
Today MCX calls
BUY GOLD OCT ABOVE 30770 TGT 30800, 30850, 30900 STOPLOSS 30650
SELL NICKEL AUG BELOW 935 TGT 934, 932, 930 STOPLOSS 939
