Tuesday, 3 February 2015

Commodity Market Base Metals News and Tips

Nickel could trade firm. Support is at 15027 and 14905. Resistance is at 15150 and 15270. MCX could trade firm, tracking firm overseas prices. However, the Indian Rupee has appreciated today and could limit upside. Resistance is at 945.60 and 970.85. Support is at 924.35 and 913.95.

Copper could continue to remain range bound to weak. Downside could be limited on more stimulus hopes from China. Resistance is at 5608. Support is at 5441 and 5346. MCX could trade firm, tracking firm overseas prices. However, the Indian Rupee has appreciated today and could limit upside. Support is at of 338.85 and 332.55. Resistance is at 349.15 and 355.85.

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