Today in domestic market base metal move up on early trade, at MCX copper for future delivery open at 411 but low open interests not supported the trend and copper fall in reverse direction and touched an intraday low of 408.65. MCX copper for June delivery looks to move on with small correction on today remaining session. Meanwhile MCX nickel playing in both directions on early hour it move high and at MCX it touched a day high of 835.30 with a low of 827.50. In evening trade nickel price are expecting to move sharply with a mixed reaction.
While some good correction is being watched in leads, zinc and aluminium on Wednesday early trade due to rising of demand in spot market. In today trade at MCX lead prices rose by 0.30% to 119.45. Some more correction is experienced in lead price in global. And local market, at LME lead increased by 0.2% and touched a high of $ 2123 per tones. MCX zinc also rose by 0.31% to 103.50 in domestic market while at LME it traded at $1873.50 tones.
Buy nickel above 835 tgt 838, 841, 845…………..sl 825
Buy copper above 411 tgt 412, 413, 415………sl 407
Buy lead above 119 tgt 119.30, 119.70, 120.50………….sl 117.50MCX crude oil for June delivery sharply fall after a good gain in yesterday trade, today it open at 5363 and continue to show a negative trend from its opening position and touched a low of 5310.
Sell crude oil below 5340 tgt 5320, 5310, 5300………..sl 5370
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