COMMODITIES TECHNICAL REPORT (13.06.2011 to 17.06.2011)
MCX AUGUST GOLD
Last week, Gold prices opened the week at Rs.22,670
per 10 grams, initially moved sharply higher, but found
good resistance at 22,786 levels. Later prices fell
sharply towards 22,455 and Gold prices finally closed
the week at Rs.22,545 with a loss by Rs.107 as
compared with previous week’s close of Rs.22,652.
TREND : SIDEWAYS (MCX GOLD Weekly Chart)
Source : Telequote
Key Levels For Week :
S1 – 22,394 R1 – 22,650
S2 – 22,260 R2 – 22,805
Recommended Strategy: Neutral
MCX JULY SILVER
Last week, Silver prices opened the week at
Rs.54,888 per Kg initially moved lower, but found
support at 54,228 levels. Later prices moved sharply
higher towards 56,280 levels, but could not sustain
corrected back lower towards 54301 and silver finally
closed the week at 54,447 with a marginal gain of
Rs.44 as compared with previous week’s close of
Rs.54,403.
TREND : DOWN (MCX SILVER Weekly Chart)
Source : Telequote
Key Levels For Week :
S1 – 53,200 R1 – 54,975
S2 – 51,170 R2 – 57,300
Recommended Strategy: Sell MCX Silver July
between 55000-55100 with strict stop-loss above 56300
Targeting initially 53300 and then 52300.
C t l R
TM
MCX JUNE COPPER
Last week, Copper prices opened the week at
Rs.409.35 initially moved higher, but found resistance
at 413.40 levels. Later prices fell sharply lower towards
400.30 levels and copper prices finally closed the week
at Rs.401.60 with a loss of Rs.7.1 as compared with
previous week’s close of Rs.408.70.
TREND : DOWN (MCX COPPER Weekly Chart )
Source : Telequote
Key Levels For Week :
S1 – 396.60 R1 – 405
S2 – 391.60 R2 – 411.40
Recommended Strategy: Sell MCX Copper June in the
range of 405-407 with strict stop-loss above 412 Targeting
initially 394 and then 391.
MCX JUNE CRUDE
Last week, Crude prices opened the week at Rs.4503
levels initially moved lower and as expected found
good support at 4383 levels. Later prices rallied
sharply towards 4575 levels, but could not sustain the
gains corrected towards 4428 levels and Crude finally
ended the week at Rs.4432 with a loss of Rs.72 as
compared with previous week’s close of Rs.4504.
TREND: SIDEWAYS( MCX CRUDEOIL Weekly Chart )
Source : Telequote
Key Levels For Week :
S1 - 4350 R1 - 4484
S2 – 4250 R2 - 4600
RANPARA NISHIT
CO.9978490485
RANPARA NISHIT
CO.9978490485
