Base Metals Outlook- Zinc and Copper Updates

MCX Zinc (June) 

Zinc June futures contract while trading above 101.40 level, may see some upside till 103 initially. For a bigger move up zinc will have to breach the level of 104 and if it ables to break this level zinc may test 105.60-107 levels in near term. Below 99 we can see a direct sell off and it may fall down to 97.00 levels.

MCX Copper (June)

Copper MCX June contract is likely to trade in bearish zone as long as it continue to trade below 404.75 level and prices may move down to 401-398 levels. A breakthrough above 406.25 might help copper to move up in the ladder and to touch 409-412 levels which may be followed by 414 later. 

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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.

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