Base Metals Trading Tips and Commodity Market Update: Nirmal Bang
Copper: The counter looks strong as itre-enteredthe channeland closed above the 7 DMA. The RSI have come close to the MA intending to breach the same. Thus prices can test the 21 DMA at 301.5 and next 304(Resistance line)if maintains above 292.5 levels.
Nickel: The counter has again breached the trend-line and closedabove the 7 DMAtesting the 21 DMA also. Thus the counterlooks strong above the trend line, especially above the 7 DMA of 822. Maintaining above the trend line counter can even test 875-880 levels in near term.
Aluminium: The counter looks strong on breaching and closing above the 21 DMA of 89. The RSI remains positive with rise in the prices. Thus the counter is expected to test 90.5 on the upside, on maintaining above 88.5 levels.