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Published on 13/05/2021 4:45:29 PM | Source: Axis Securities Ltd

Sell Nickel Below 1305 SL ABOVE 1315 TGT 1292/1287 - Axis Securities Ltd

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

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COPPER

MCX Copper price is trading near trend line support level, price is expected to trade negatively. Any breakdown below 785 next leg of the correction would drag down the price lower towards 780/776 levels in intraday. The momentum indicator RSI is trading at 43 and it is forming lower lows which is a bearish sign for the prices.

SELL COPPER BELOW 785 SL ABOVE 789 TGT 780/776

 

NICKEL

MCX Nickel price is trading near support level inside c lidation range, price is expected to trade negatively. Any breakdown below 1305 next leg of correction would drag down the price lower towards 1292/1287 levels in intraday. The price has started trading below 9,21&60 hourly EMA which is a bearish sign for the prices.

SELL NICKEL BELOW 1305 SL ABOVE 1315 TGT 1292/1287

 

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