Base metals are trading on higher note
in MCX. Nickel, with a gain of more than 1%, is trading above 870
level and its nearest support level is 877 while on the downside,
support level is 858. Downside is expected below 855 level.
Trend- Up, recommendation- Buy
Copper is facing a resistance at 224
level and a breach above the same would require to see more momentum
in this base metal. However, major level to breach is 428-432 for a
sustained upside. We can see copper to reach 424-427 if it
consistently sustains above 221 level.
Trend – Up, recommendation- Buy
Note: Trading in equity and commodity
market inherits risk. The trading recommendations provided here in
this blog are the individual views of the author of this blog which
he/she put across after the detailed technical and fundamental
analysis of the market. Commodity Markets and/or in any of financial
instruments are subject to external risks. Readers of this blog is
free to take their own decision and “Commodity Updates” does not
hold and responsibility ifor the loss incurred due to the information
provided herewith.
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