Base Metals Updates- Copper, Zinc Nickel and Lead Trend

 MCX Copper may notice some decline following the global cues. On the domestic front, Support for August copper is seen at Rs.415 while resistance is seen at Rs.421. On the other side, aluminium is showing good strength and trend for today is expected to be up. Support for Aluminum July contract is seen at Rs.102.5 while resistance of Rs.105.5.
Zinc Levels - Support for MCX Zinc July contract is seen at Rs.100 while resistance is seen at Rs.103.
MCX Nickel - Support for  Nickel July contract is seen at Rs.875 while resistance is seen at Rs.905.
MCX Lead - Support for Lead July contract is seen at Rs.103 while resistance is seen at Rs.106.

Commodity Updates- Nickel Trend

MCX Nickel April contract prices ended higher supported by firm equity market and weak US dollar. LME nickel LME nickel for delivery in three months opened at USD 25,500/mt and closed at USD 26,360/mt, up by USD 785/mt from a day earlier, with the highest price at USD 26,440/mt and the lowest price at USD 25,500/mt.

For today market is looking for the support at 1151.4, a break below could see a test of 1131 and where as resistance is now likely to be seen at 1196.2, a move above could see prices testing 1205.4.