Monday, December 19, 2011

Base Metal Tips For Intraday

COPPER (FEB. 2012)
Last week, it broke major support level of 410 and finally made a low of 386. Overall trend is bearish and sell on rise strategy. Now resistance at 398-400, and major resistance at 420. Downside support at 380-373 to watch out, once break and trade below bears may show power.

Trend Decider of this week: 411


Nickel (MCX-Dec'11): Nickel strongly maintained its support at 950. Today we expect that this level may breach but a bounce back from lower level is also there on the card.
Last day Nickel breached the level of 950 and smartly bounced back from lower level."
Today's Tips: Buy Nickel above 983. TGT- 992. SL- 975. Sell only below 970. TGT- 958. SL- 975.

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