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DAY TRADING TIPS

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Copper and base metals have been trading in green this week since Monday. We saw a bullish traders ready to take risk and enter the market with optimism.

Current contract of Copper was seen trading at 451 to 451 yesterday. Other base metals have been following positive trend and MCX commodities were spreading greenery all around.

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Generatebucks - Copper and Base metals
MCX commodities majorly follow LME and global trends. Yesterday copper prices rose to a new two month high in London after the US-China trade talks were seen moving in positive direction. US president Donald Trump said on Tuesday talks with China, currently taking place in Washington, were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a "magical" date.Click here

The main reason behind the price recovery and optimism in the market is due to the movement in trade talks. This could affect base metals in any way. Trends could reverse if we see no possible outcomes from trade discussions between the two countries.

Individual base metals

Copper

Copper closed at 452 yesterday on MCX. Traders have been bullish the metal will experience a deficit market this year are beginning and this might override concerns that a trade-war induced decline in global growth will impact copper demand.

Copper Investing – Buy Copper at 451 for target of 460-461 in upcoming sessions with stop loss of 445. The trend is positive due to trade talks moving in positive direction, this might change if some negative news come into the market.

Zinc

Zinc closed around 191 on MCX yesterday and based on the fundamentals, we might see Zinc trading at levels of 200 again. I expect Zinc to follow a bullish trend for few upcoming sessions.

Zinc Investing – Buy Zinc at 193 for target of 195 in upcoming sessions with a stop loss of 185. Zinc has a key support zone of 182 and this is a great level for buyers to enter for a positional trade

From a long term perspective, Zinc is a great commodity to invest since demand is expected to grow and this market will have supply issues.

Nickel

Nickel is in demand and we have seen a big rally in last few sessions. I foresee Nickel to follow the trend and nickel prices to touch 1150 in coming months. If the trade talk move well, every base metal will rally and traders can expect more from Nickel looking at the demand.

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