Post Top Ad


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

Post Top Ad

Yesterday we saw Copper, Zinc and Lead all trading in red. All base metals were under pressure due to trade tensions. Zinc did outperform for past two weeks and this counter has been quite volatile lately. - Copper and leadAs per my previous strategies discussed on October 17th, Zinc did see a sideways trade but we see a huge jump since then. With volatility in the market and looking at growth, I would recommend to target quick trade to make small profits.

Copper Futures

Trade tensions for Copper doesn’t seem to end and we can the counter trading in red again despite demand in the market. With festive season around the corner, we see lot of investors directed towards Gold and Silver.

Looking at fundamentals in the market – 

Lately, we have seen Indian Rupee gaining slight stability and despite issues with other emerging market currencies. Indian Rupee this morning were seen trading at 73.45. Traders and analyst see a strong resistance at 73.15 and are expecting Rupee to trade low.

Analyzing Copper demand, we can see a decline in demand due to growth concerns in Chinese economy. China do have plans to roll out more policies to support private companies and this statement was released after this week Chinese data was released. Read more 

Copper day trading strategy – We can expect Copper to trade sideways to bearish. This is great time for a quick trade. I would recommend positional traders to short copper for short –term trade.

Short Copper at 453 for target of 451 -450 and SL of 456. Another trade could be buying at 452 for target of 454 and SL of 451

Zinc Futures

Zinc has been following a bullish tread and it is expected to follow the same today. I expect Zinc to follow a sideways to bullish trend. This counter could be great for a quick trade since MCX Zinc allows trader to play huge.

Buy Zinc 199.50 with target of 204 in upcoming sessions and SL 198.50.

Lead – Investing in Lead

I expect Lead to follow a bearish trend today so a short is advised. Sell Lead at 147.45 for target of 145 with SL 148.50
Please follow Stop Loss strictly since markets are quite volatile.

Read Disclaimer before investing

No comments:

Post a Comment

Leave your comments below.

Post Top Ad