Base Metals Trading Tips and Commodity Market Update: Nirmal Bang
Copper: The counter is facing the major resistance around 314 levels fresh buying can only be done above 314 levels. Negative crossed over in RSI and MA with trend line breakout indicates the short term weakness in the counter. If it breaches 307 can test 300 levels in the short run.
Nickel: The counter has breached the trend line support and trading below 40DMA indicates the short term weakness in the counter. Prices are facing major resistance around 920 levels if the counter trades below 850 we may see the prices to test trade around 820 and 800 in the short run. We should sell on rise with the stop of 900 for the target of 850 and 820.
Aluminium: The counter has breached the trend line and trading sideways to down. Negative crossed over in RSI and MA with trading below 9DMA indicates the short term weakness in the counter targeting 86-85 in the very short term if closed below 88.