Update on Basemetals 20 Sep 2016

Lead

We recommended buying around 131---130.80. Just made a high of 131.75

Now what to expect???

Hurdle at 132 and Support at 128

Two consecutive closes above 132.50 will take to 138---141+ mark in days to come

Above 128... Target looks 155+ mark but trade with levels only

Zinc

Not able to breach 147.00 and bounced back to 152.00 mark

Now what to expect???

Hurdle at 152.50 and Support at 150.50---147

Close above 152.50 will take to 155.50---158.00. Further upside rally will see only close above 158 mark else it could test its support level of 150.50---149---147 again

Further downside panic will see only close below 147

Trade with levels only

Aluminium

Support at 104.00 and Resistance at 107.00

Looks positive and could test its resistance level of 107.00. Further upside rally will see only close above 107.00 else it could test its support level of 104.00 again

Fresh selling can initiate only close below 104.00

Trade with levels only

Copper

Support at 321 and Resistance at 325

Close above 325 will take to 329---332. Further upside rally will see only close above 332 mark else it could test its support level of 321 again

Further downside panic will see only close below 321

Trade with levels only

Nickel

Yesterday we have seen mind blowing rally in Nickel. It flared from bottom level and now trading around 682

Now what to expect???


Support at 640 and Resistance at 700

Three consecutive closes + weekly close above 700 will see sharp upside rally till 755---780+ mark in days to come else we will see range bound trading continues in it

Trade with levels only

More will update soon!!