MCX Basemetals Levels Update on Visit Now!!

As expected.. We have seen panic in base metal. Trend still looks weak and will expect more panic in days to come but trade with levels only.


Yesterday.. we recommended selling in Copper around 376 with stop loss of 381. It made a low of 372.90 and now trading around 373.50

Now what to expect???

Still looks weak and could test 370—367 mark. Further panic seen only weekly close below 367 mark

Maintain stop loss of 381


Yesterday.. we booked full profit in Nickel around 825. We recommended selling below 855

Now what to expect???

Support at 810 and Resistance at 840

Two consecutive closes below 810 will take to 785—760 and then we will see free fall in Nickel in coming days

Else it could test its resistance level of 840 and then to 855—870 again

Trade with levels only


Crashed vertically and made a low of 115.80. We recommended selling below 121.50 mark

Now what to expect???

Close below 115.25 will see further panic till 114—113 mark

Maintain stop loss of 117.50


Support at 133.50 and Resistance at 136.50

Two consecutive closes below 133.50 will take to 130—128 mark in days to come

Hurdle at 136.50


Made a low of 107.25 and bounced back. We are holding short from 110.80 level

Now what to expect???

Support at 107 and Resistance at 109.50

Two consecutive closes below 107 will see further panic till 104—102.50 mark in days to come

Fresh buying can initiate only close above 109.50

Traders have a close watch on tomorrow’s FED meeting minutes and interest rate decision. More will be updated soon, trade with levels only.

Post Comment