Post Top Ad

DAY TRADING TIPS

Copper target met Buy Zinc at 199 for target of 201 , SL 198 Date - 14/03

Post Top Ad


All base metals saw a downtrend in yesterday's trading session. Copper fell to 414 from 430 on MCX, after US confirmed that President Trump’s administration proposed an increase in traffic rate on $200 billion worth of Chinese goods.

All base metals saw a major downtrend with Zinc falling almost 5 points on MCX. Zinc treatment charges (TCs) have ascended to their most astounding in around two years, bringing down trade costs for the metal influencing smelters in China to bring down yield, while terms for lead concentrates fell with arbitrage exchanges fueling a market altogether shy of supply.

Today we can look at rebound but not a good market have consider positional long trades. If you have currently holding any long positions on base metals, please exit based on stop loss for various base metals.

base metals - Generatebucks.com
base metals - Generatebucks.com

I would suggest Intraday traders to sell on high for this week since the trade war news is still syncing and currently there has been no solution 

In base metal pack the hot picks would be Copper, Zinc and Lead.  All three base metals have strong support towards 408, 173 and 140. So for investor, sell on high would be the strategy. 

Sell copper below 415 for target of 408 with SL of 418
Sell Zinc at 176 for target of 173 with SL of 177.50
Sell Lead at 145 for target of 143 with SL of 146

Post Top Ad