MCX Base Metals View for 12.03.2013

MCX Copper

Bloomberg reported that China is holding a once-a-decade leadership transition in Congress to be completed on March 17.The congress usually leads to an increase in approvals of infrastructure projects.Investors expect an increase infrastructure spending in the next few months.
Copper Slightly bullish trend on today as per International Market.Daily Chart looks positive for Buying.

Shanghai & LME copper Price Gap narrowing,Arbitrage Buying happened in LME,Makes Copper trade higher.

Yesterday(11.03.2013) MCX Copper Closing Price 425.60.Today MCX Copper Opens above 425.60,MCX Copper Likely to trade upper side.

MCX Copper Technical Levels for 12.03.2013

MCX Copper Upper side breakout point     : 427.30(Buy Comes above this point)

MCX Copper Technical Resistances levels  : 428.30,429.10,430.20

MCX Copper Down side breakout point     :  424.40(Sell Comes below this point)

MCX Copper Technical Supports levels      : 423.30,422.70,421.70

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MCX Base metals Pivot levels for 12.03.2013 Click here 

For Lead,Zinc Aluminium & Nickel--->Click Read More

MCX Commodities Intraday Technical levels for 12.03.2013

Gold April Contract

11.03.2013 MCX Gold Closing price      29321

Technical indicators

Simple Moving Average 

5 days Simple Moving Average     29396.60 

20 days Simple Moving Average   29676.70

50 days Simple Moving Average   30183.16   

200 days Simple Moving Average  30778.26

Bollinger band

Upper band        30199.17

Middle band       29676.70

Lower band       29154.23

   Silver May Contract 

11.03.2013 MCX Silver Closing price 54593

Technical indicators

Simple Moving Average 

5 days  Simple Moving Average      54785.20          

20 days Simple Moving Average     54364.10

50 days Simple Moving Average     56811.44     

200 days Simple Moving Average   58640.06

Bollinger band

Upper band      55963.84

Middle band     54364.10

Lower band     52764.36

For Copper,Lead,Zinc Aluminium,Nickel& N.G levels Click Read More