Base Metal
On domestic market base metal are trying to recover against weak international cues. Today MCX copper for June delivery open at 401.40 and show a bullish trend with some negative flashes. On intraday trade MCX copper for June delivery touched a high of 406.30. Some more green color going to seen in evening trade at MCX.
Today MCX nickel for May delivery open in green side against its previous close, nickel open at 817.40. Nickel price move up by more than 050% today and some positive fragrance also seen in upcoming day in overseas market. At, LME (London metal exchange), nickel traded at $ 14,900 per tones and also favors the domestic market trend.
Lead, zinc and aluminum also follows positive trend and supporting a good level in overseas market. Today leads for future delivery open at 109.40 and touched an intraday high of 110.45 and experienced higher trend with day passes.
Aluminum on intraday trade looks more positive in domestic market and expected to trade with a good range. For today trading aluminum are expecting to trade between 100.50 to 102.50 .BUY LEAD MAY ABOVE 110 TARGETS 110.5, 111 , 111.5 STOPLOSS 109.1
BUY COPPER JUNE ABOVE 403 TGT 404, 405, 407 STOPLOSS 399
BUY NICKEL MAY ABOVE 819 TGT 821, 823, 825 STOPLOSS 813
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Precious metal
Bullion looks bearish again on 5 day continue, gold prices following low level after opening at 26044 and follow a down trend with some volatility in early hour of trade. On intraday market gold for June touched a high of 26142 and low of 25926. While silver again fell to hold its ordinary show and drop down with a low of 42762 on intraday trade.
SELL GOLD BELOW JUNE 25970 TGT 25940, 25910, 24970 STOPLOSS 26970
SELL SILVER JULY BELOW 42850 TGT 42800, 42700, 42600 STOPLOSS 43100
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