Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

Base Metals Trading Tips and Commodity Market Update: Nirmal BangCopper: The counter is seen resisting the 312 levels on the upside while taking support at 305 levels, thus trading every range bound. Breaching the 7 DMA at 306, prices can test 299 levels- the 21 DMA. However the RSI is still in the positive territory and ADX on its top, thus investors should remain caution on the upside as breaching 312 prices can move further higher.

Nickel: The sentiments in the counter looks negative with close below the middle line of the Bollinger Band. The prices moved lower yesterday till the support at 920. Thus breaching 920 levels today can push prices further lower to 900 levels.

The Aluminium prices have moved below the 90 levels yesterday, but took support at the 88.4 levels. The Dropping RSI and cross over in ADX suggest selling in the counter below the 94 levels. The immediate support is seen at 86.4 levels.