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DAY TRADING TIPS

NG TARGET ACHIEVED AND STILL BULLISH< HOLD FOR 235 Buy Copper at 412 , target 420, SL 410

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I have been highly recommending to invest in Copper and sharing trade strategies which are 100% profitable.

Looking at base metals globally, we don’t see any positive momentum. As mentioned earlier, all base metals are trading in a range and this trend has been repeating for few weeks since there is lot of uncertainty in market.

Trade war has now turned into a currency war and we saw all emerging currencies following a downtrend. Rupee fell to 69.96 yesterday and is expected to touch 470.15 in upcoming trading sessions. Although, it is not showing any bad signs for economy but most commodities will have a negative impact in long run.

Looking at Chinese data, we can see a slowdown which has highly affected Copper prices. Zinc also saw a decline and has been trading 14 month low price. Traders should expect prices to see more downside, despite that most base metals are oversold.

Read more about data from China which have deep impact on Copper.

Intraday tips copper


Zinc


Zinc is falling its bearish trends and we might see Zinc breaking resistance of 171 on MCX. I believe Zinc could touch 168 in upcoming sessions and it will be touch and go. 168 INR on MCX would be a really good price for positional trader to enter.
For intraday, initiate a short position at 174 with target of 172 and SL of 176. Zinc might hover from 171 to 180 till we see any supply concerns.

Copper

Copper has been my favourite pick among base metals since it has lot of potential. Copper prices have been range bound. As mentioned yesterday, we saw copper prices around 427.See here

For Intraday today, Copper might trade from 419 to 423. This is completely a traders market and one can earn quick bucks if played well.

Remember to have a SL at 419 for buy position and 423.50 for sell.

Aluminium

I don’t expect much movement. For quick bucks, enter around 144.70 for target of 145.60, 146 and SL of 143.




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