MCX Copper and Zinc Trading Range : Base metals Updates

Copper MCX June futures is facing a Sideways to slightly lower mode today. It opened at 418 which was the day high for today. The nearest support level for silver is 413, which if Copper success to hold, it may go up to 418-420 levels.

For Intraday Sell Copper Below 413 For the targets of 410-409 SL- 414.50

above 416 go for Buy target 418-420


In MCX Zinc May Futures above 102.80 a bullish trend can be seen today otherwise a mild correction might force Zinc to sell off towards 100.30. A direct sell off can be seen below 98.70 levels.

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Base metals Insights: MCX Zinc and Copper Updates

Copper Updates 
In Copper MCX til the prices are able to sustain above 410.50 we can expect Copper to rise up to 416.30 initially which could be followed by 410.50 later.Below 410 prices may fall down to 407-405.

Intraday Trading Tips- Buy Copper around 410.70-411 Target-413-416

Zinc Updates
As Zinc is trading above its initial Major support of 99.50 so prices are likely to see an uptrend towards 101.50 to 103.50. Below 99.50, Sell off could be seen untill 98.60-96 levels.

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Copper Nickel and Zinc Updates and Trdaing Recommendation

MCX Copper-  

Copper has retested the 8 EMA and is again looking weak. It has fallen sharply from this average from past few weeks. We expect a

decline to test 390 levels in the short term.

Trading Tips: Sell in the range of 398-400 levels with a stop loss placed above 402.80 levels for targets of 392 / 390 levels.

MCX Nickel- 

A sideways consolidation in the range of 1080-1130 levels. We expect prices to see weakness for short term declines to test 1160 levels.
Trading Tips: Sell in the range of 1090-1100 levels with a stop loss placed above 1111 levels for targets of 1060 levels.

MCX Zinc 

Prices have again come down below the resistance of 8 EMA levels. We now expect that prices may see short term declines to test 93 levels.
Trading Tips: Sell in the range of 96-96.50 levels with a stop loss placed above 97.50 levels for targets of 93 levels.

 

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MCX Zinc and Copper Updates for Intraday

Copper MCX June Contract

In copper futures June contract above 406 , it could rise upto 411 initially, but if Copper able to sustain above this level it could test the levels towards 416-422 in near term. Sustaining Below 402 could take it to the level of 390.

For Intraday Buy copper above 406 for the targets of 411-413 Stolposs 401.


MCX Zinc May Futures
Intraday support for zinc is seen near 96.50 below this level it could face a dwonfall till 96.50 -93.00. Above 97 it could go upto 99.60-100.40.

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MCX Zinc updates- Trading Tips

Zinc Futures (May) can see further sell off as they are trading below 100 Levels. It may fall up to 90-88 Level.

One can go for sell in Zinc Futures may contract on rallies to 97-98 level for the target of 94-93 keeping a around 100.

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Commodity Updates- MCX Tips for Today evening

Gold MCX June Buy at 21245 Target 21320 SL 21200

Silver MCX May Buy at 58380-420 Target 58780 SL 58150

Crude Oil MCX Apr Buy at 4910 Target 4945/65 SL 4885

MCX Aluminium Apr Buy at 118.3 Target 119.4 SL 117.7

MCX Copper Apr 41.65 Buy at 435 Target 439 SL 432.5

MCX Lead Apr Buy at 126.8 Target 128.1 SL 126

MCX Nickel Buy at 1208 Target 1222 SL 1199

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