mcx base metals commodity report for 18 october 2016

aluminium base metals commodity report for 18 october 2016

Mcx aluminium future last closed at 110.95 with the loss. Aluminium prices are correcting towards the support of 108.8 but outlook still bullish and strategy remains to buy on dips. On upside 112 and 113.55 are target zones and can be expected in short terms. Blow 108.8, aluminium become bearish and sell for big downside target.

copper base metals commodity report for 18 october 2016

Mcx copper future last closed at 313.3 flat positives. Copper is hovering around lows but the outlook is positive. On downside 310 and 303 are supported zones as well as stop loss levels for long positions. On the upside, traders can expect 318 to 323 levels as short term targets.

lead base metals commodity report for 18 october 2016

Mcx lead future last closed at 132.95 with the loss. Lead is in bearish trend and expects to fall up to 128 in short term. On upside 135 and 136 are strong resistance zones. Traders here keep sell on rising view with stop loss and expect deep downside targets in short to medium terms.

nickel base metals commodity report for 18 october 2016

Mcx nickel future last closed at 688.3 with the loss. Nickel is under pressure on fresh selling but the outlook is bullish and 680 to 688 is strong support zone and expect strong reversal short covering rally from this level. On upside 720 and 734 are resistances as well as medium term target zones. Below 680, nickel might fall up to 655.

zinc base metals commodity report for 18 october 2016

Mcx zinc future last closed at 152 with gain. As already suggested zinc will resumed rally after a sharp correction. From here expect big upside on short covering rallies. On downside 150 rupee is strong support and above it, zinc targets will be 155 and 162 in short to medium terms. We already saw a strong rally from 148 low to high above 152+.

 

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