Base Metals Trading Tips and Commodity Market Update: Nirmal Bang
Copper: The counter is turning positive with positive crossover in ADX and RSI above the resistance line. The prices are also seen closing higher above 313. Thus one can remain long in the counter for the day above the 310 levels as breaching the resistance at 313 may trigger upside in prices till 318-319.
Nickel: The counter has closed above the 7 DMA after a long time, which looks positive for the day. The prices may try to inch-up higher, but may face strong resistance at
875 levels. Thus one can remain positive above 830 for the day, targeting 870-75.
Aluminium: The counter is seen making a turnaround from downtrend and entering a uptrend with positive break out from RSI and ADX. The prices touched the 92 levels yesterday, while for the day prices may remain positive above 90.5 levels targeting 92.5 and 93 levels.