Copper: Copper prices turned downwards in the later session yesterday breaching the support at 269.5. The prices moved lower till the 7 DMA breaching the previous low and closed below the support level of 269.5, which is slightly negative for the counter. Counter looks weak below 269.5, thus prices remain below 269.5 can test 261 levels in near term. Thus fresh buying can be done only above 270 levels for the day.

Nickel prices remained positive for the day, however closed near the open forming a Doji. The prices are seen maintaining above 804 levels, thus breaching this prices may turn downwards. The immediate support is at 800, breaching 800 prices may turn bearish in the near-term targeting 767 levels.

Aluminium prices are marching upwards step by step after a positive break out at the bottom. However prices are currently trading range bound at the top of the Bollinger Band forming support at the 86.5 levels. Thus prices are expected to continue the uptrend but breaching 86.5 prices may fall back to 85.5 levels.