Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

Base Metals Trading Tips and Commodity Market Update: Nirmal BangCopper: The counter remains weak with close below all moving averages; however the counter may also take support at the support-lineof the channel. The RSI remainsweak below the MA but there is no clue from the ADX. Thus one can remain bearish below 305 levels while breaching 294 can trigger further downside in the counter till 290 in nearterm.

Nickel: The counter looksfirm above the trend line and also closed above the 21 DMA. The RSI have moved above the MA while ADX is on the verge of a positive cross-over. Thus prices maintaining above the trend line can test the 40 DMA at 898 in short run.

Aluminium: The counter traded weak yesterday belowthe 21 DMA of 89.9, and breached the support at 88.8 levels. The RSI remains weak below theMA. Today breaching 88.5 levels can triggerfresh selling till the next support at 87.