TOP: Base Metals Trading Tips and Commodity Market Update: Nirmal Bang
Copper: The counter moved positive breaching the short term trend line and closed above the resistance at
305. The ADX is flat with no signal on the direction, but RSI have picked yesterday due to buying seen in the counter. Thus prices can continue upside as long as it maintains above 303, targeting 309-310 for the day.
Nickel: The counter remained positive yesterday above 805 and closed higher at 827.3. The counter is seen resisting the 825-830 levels. Thus one can remain long in the counter for the day above 830 targeting 855-60. However strong resistance is seen around 875 levels (trend line), thus selling pressure may come in at this level.
Aluminium: The counter remained negative yesterday but closed higher near the open just below the 7 DMA. The looking at the earlier two candles, prices are expected to move positive on breaching the 7 DMA-89.3. Prices may try to touch the 21 and 40 DMA at 90.5 and 92.5 respectively.