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Published on 7/08/2020 9:59:42 AM | Source: Axis Securities Ltd

Sell Zinc Around 191-191.5 SL ABOV 192.5 TGT 190.3/189 - Axis Securities

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

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Zinc

Zinc prices traded in an narrow range between 190.5 and 192 throughout the day. Prices is not able to sustain above the resistance zone of 192 and it closed around 191.3 level. On hourly chart we have observed divergene in RSI with prices which indicate possible reversal of current uptrend. Traders can sell Zinc around 191-191.5 level for the target of 190.3 on intraday basis.

SELL ZINC AROUND 191-191.5 SL ABOV 192.5 TGT 190.3/189

 

Nickel

Nickel prices traded sideways in a range between 1100 and 1110 in last session.On hourly chat prices closed below 20 days EMA and RSI is trading below 60 level which indicate low momentum in prices. Any rally towars 1109 can be used as an selling opportunity in Nickel for the target of 1106 on intraday basis.

SELL NICKEL AROUND 1109 SL ABOVE 1112 TGT 1106/1100​​​​​​​

 

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