Wednesday, June 1, 2011

Base Metals Updates: Copper Zinc and Nickel Intraday Tips

Copper (June '11) 
Copper Prices Can Hold the Bull trend as long as it traded above 413 level. Consistent Trade above 413 may lift copper prices towards 418-421 levels while below 410 Copper might face sell off towrads 407-403 level.

For Intraday Buy Copper above 414.50 targets-417-418 Stoploss-412.50.

Nickel (June '11)
Nickel is trading between the range of 1085-1030 from last few days. So the extreme levels are the points which can decide any direction move.

For Intraday one can sell Nickel below 1055.

Zinc (June '11)
Zinc MCX June contract one can buy above 101.20 as above this level Zinc may move higher towards 103.50 levels. A bull rally could be seen if it breaks the crucial level of 104 and Zinc may test 106.20 followed by 108.60 above this level in near term.

Below 100.50 zinc is bearish.


Posted By Commodity MCX Tips