Last Updated : July 30, 2010 17:25
Base metals firm despite profit booking
Fundamental View Base metals prices witnessed some profit booking at higher levels however still firm trend intact in prices. Copper prices made new high of $7287 on the LME and rising euro against dollar.
Sliding inventories and increasing cancelled warrants adding support to prices. LME Nickel prices sustained near $20500, while lead and zinc also trading near $2000 level. Today, somewhat correction is expected in base metal prices.
Technical View
MCX Copper (Aug) has strong support at 333 with resistance at 338
Nickel has resistance at 970 with support at 955
Zinc support lies at 91 and resistance at 93
Lead has support at 93 & resistance at 95
Courtesy: Anagram Comtrade Limited
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MCX Tin 30 March 2012
contract was trading at
Rs 1077.75 , up Rs. 31.75 . What's your view on it?
