Base metals complex remained firm during the day and most of them ended the day on a positive note, getting some support from depreciation in dollar.

Copper and Nickel were up by 0.82% and 1.2% in the last trading session on MCX.

Shanghai copper rose nearly 2 percent on Tuesday, its third straight day of gains, while London metal inched up, supported by a weak dollar.

Russian miner Norilsk Nickel said it had trimmed its 2009 nickel output forecast to between 285,000 tonnes and 300,000 tonnes, from an earlier estimate of 290,000 tonnes to
305,000 tonnes.

Copper's support is pegged at 214-214.50 rupees, as long as this level holds, (we) expect copper to test 222 rupees followed by 225 levels," said Transmarket Group.

Base metals: Reports on Chinese State Reserve Bureau selling 50000 tonnes of copper may trigger some selling initially but weaker dollar and improvement in risk appetite can add more upside in industrial metals. We recommend buying Nickel as it has potential to move up rapidly. Base metals are expected to trade up during the day.

Copper: Copper prices have settled at 218-220 levels, after taking support at crucial levels of 212-13. Copper can now move upward in the earlier channel. However, resistance can come in at 224 levels. Thus, one can enter copper at 220 levels and book profit at 224 levels.

Lead: Lead prices maintained 65.5 levels and are moving ahead now. RSI has given a cross over on the upside, thus lead can move up from these levels. Thus, one can enter lead at levels of 67-68, targeting 70 during the day and 74 levels in the near term.

Zinc: Zinc prices showed a trend reversal on Friday, and prices are hovering above 70 levels. Zinc prices are maintaining above the resistance line and can move up in the earlier channel. Thus, buying can be done, targeting higher levels of 73-74.

Nickel: Nickel prices also showed a trend reversal on Friday. One can remain positive in nickel above 572 levels. Nickel can resume the earlier uptrend on breaching the 624 levels on upside. Thus, one can buy Nickel at 600 levels for a target of 620-24, with a stop Loss of 594. On breaching 624 levels, nickel can eve move up to 632 levels.