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Wednesday, August 16, 2017

Update on Base Metals (16th Aug’2017)





Copper 


Support at 407 and resistance is 411---417.

Break and sustain with volume above 411 will see sharp upside rally till 415---417 and then to 424+++ mark in near term else could touch its support level of 407.

Fresh selling can be initiated below 407.

Trade with levels only.




Nickel 


Support at 654 and resistance 683.

Break and sustain above 683 it can touch to 698—714—745++ mark in near term else could touch its support level of 654 mark.

Fresh selling can be initiated below 654.

Trade with levels only.



Lead 


Support at 151 and Resistance at 154

Break and sustain above 154 with volume will take it to 157---159.50++ mark else it could touch its support level of 151.00 again.

Fresh selling can be initiated below 151.0

Trade with levels only. Any reversal seems will update



Zinc


Hurdle at 192. Break and close above 192 will see more upside rally till 193.50---195 and then 198+++ mark in days to come.

Support intact at 189---187.50

Fresh selling can be initiated below 187.50

Trade with levels only.




Aluminium



Support at 129.50---128.00 and resistance is 131

 Close above 131.50 with volume will take it to 134---137.50 mark in near term else it could touch its support level of 129.50---128.00 again

Fresh selling can be initiated only below 128.

Trade with levels only. Any reversal seems will update












More will update soon!!