Apart from Nickel, all base metals on
MCX mcx are trading lower. With a slight rise of nearly 0.25%, MCX
nickel is trading around 880 level. Trend seems to be sluggish for
the day. However a breach above 888
may trigger buying interest
towards 997/905-912 level. Near term trend is also negative. On
downside, 874 is the key support to prevent the downfall.
MCX Copper is also trading with
negative bias and it is heading towards its support range of 417-414
level. Any trade below such levels may invite more liquidation
pressure.
Traders can buy copper around 417-418
for the targets of 422.50-426-430 levels for near term.
