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Published on 23/10/2020 5:31:14 PM | Source: Axis Securities Ltd

Sell Copper In The Range OF 530-530.50 SL Above 533 TGT 526/524 - Axis Securities

Posted in Commodities Reports| #Commodity Tips #Axis Securities Ltd

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Copper

MCX Copper price has given negative breakout from rising trend line channel, price is expected to trade positively. Sustaining below 530 next leg of the correction would drag down the price lower towards 526/524 levels in intraday. As the RSI is trading at 45 it shows bearishness in the prices.

SELL COPPER IN THE RANGE OF 530-530.50 SL ABOVE 533 TGT 526/524

 

Nickel

MCX Nickel price is trading under a rectangle pattern, price is expected to trade positively. Any breakout above 1170 next leg of the rally would push the price higher towards 1180/1185 levels in intraday. On the hourly chart price is trading above 60 EMA which is bullishness for the prices.

BUY NICKEL ABOVE 1170 SL BELOW 1164 TGT 1180/1185

 

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