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Tuesday, September 5, 2017

Update on Base Metals (5th Sep 2017)




Nickel


Support at 770 and resistance 786.

If unable to breach its support of 770 then we can see upside rally in it. Fresh buying can be seen above 786 which will take it to 798—810 and 825++mark in near term. 

Selling can be initiated below 770 mark.

Trade with levels only.




Lead



Support at 150 and Resistance at 152.50---154.00

Close below 150 with volume will take it to 147---146 and then 142 mark else it could touch its resistance level of 152.50---154 again.

Fresh buying can be initiated above 154 mark.

Trade with levels only. Any reversal seems will update



Zinc



Support seen at 203 and Resistance is at 206.

If unable to breach its resistance of 206 then we can see downside panic in it.

Break and close below 203 will see more downside panic till 201.50---199 and then 196 mark in days to come.

Fresh buying can be initiated above 206 only.

Trade with levels only.



Aluminium



Support at 132.50 and resistance is 136.50

Break and sustain above 136.50 with volume will take it to 138---139.5 and then 142++ mark in near term else it could touch its support level of 132.50 again

Fresh selling can be initiated only below 132.5.











More will update soon!!