Copper: We have seen very good rally in the counter from 264 to 295, with the RSI raised to 81.73 in the earlier session. Thus calling for a correction in the price. The prices have breached the immediate uptrend and RSI have dropped to 73.84 yesterday. Thus the bias now remains on the downside and prices are expected to correct till 277.

Nickel prices too have rallied up sharply with the RSI near 83.8 in the earlier session. Thus a correction is due; in addition prices have closed lower yesterday but still maintaining above the trend line. Therefore one can remain short in the counter below 919 levels targeting 860 levels.

Aluminium prices have closed negative, taking support at the crucial levels of 92.7 plus the 7 DMA. The RSI also have breached the MA and +DI is inching down. Thus the prices can correct till 88 levels breaching the support at 92.7.