MCX Copper & Silver Updates

Commodity Updates Today

Gold silver on MCX are likely to act as they did yesterday. Gold likely to move with slightly negative bias whereas Silver may see some upside again today. In the international market also, silver started with a positive not and gold slightly negative today.
 Today, silver is required to trade consistently above 54500 level to extend the persisting trend. Inability to remain above 54300 may invite some downside for a while which will find a support near 54000 level.

Copper may get some hike today.  Since prices are consistently trading above support level of 413, we may expect copper to reach 416-418 level today. Day traders can take long positions accordingly.

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.

MCX Copper Updates for Today

Base metals are trading with positive bias today and all the metals on MCX are trading with edge. February contract of MCX copper is moving above 409 level which could be a positive sign for a bullish momentum. Copper Prices are likely to reach 411.50-412 level today and traders can buy copper accordingly.

Below 407, this metal may see some downside. Trading range for short term is 403-414. A break in either side would decide the direction of the prices

Commodity Tips For Today

Buy MCX Gold Above 28100 Tg- 28200-28350 SL- 27900

Buy Silver above 65250 TG- 65500-800 Sl- 64950

Buy Copper above 407.50 TG- 409-4011 Sl- 404

MCX Base Metals Trading Tips

Copper JUNE Buy around 413.50-414 or above target- 417 Stop-loss-411.50

MCX Lead May buy above 115.5 Target 116.40 Stop-loss- 114.20

MCX Zinc May buy above 101.80 Target-102.9

MCX Nickel May buy above 1074 Target 1090-1100 Stop-loss-1055

Copper Trend For Today 19 May 2011

Copper Prices are likely to trade Higher if it manages to trade above 403 levels and prices might go up to 409 which could be followed by 416-421 if it breaks 411 level. Below 398 prices may face sharp fall till 395-391.

One can initiate long only after 403.50 for the targets of 406-409 keeping a stop loss below 398.

MCX Tips for Today

Buy Gold May Contract above 22300 Targets- 22450-22500 SL-22160

Buy Silver June contract above 71600 TG-71900-72200 SL-71100

MCX Copper June Sell Around 424 TG 415-410 SL-434