Post Top Ad

DAY TRADING TIPS

----- ----

Post Top Ad



Base metal pack started this week with a slowly and were trading in red zone yesterday. This morning was a different story and we saw entire base metal pack shining in green

generatebucks.com
Copper, Zinc, Lead and Aluminium trading tips - Generatebucks.com
Look at the market since morning Copper, Zinc, Aluminium and lead are all up at MCX and we see traders reacting to the positive sentiments in the market. With China announcing tax cut for manufactures from next month, we can expect a boom in the market.

China will cut value-added tax for manufacturing and other sectors on April 1, Premier Li Keqiang said on Friday, adding that cuts in taxes and fees remained a key measure to cope with downward pressure on its economy.

Copper


Copper was seen trading in consolidation mode for past few weeks but it seems that after the announcement on tax cut by Chinese government, there has been positive sentiments in the market. Due to this we can see bullish traders in the market.

With progress on US-China trade war, we can assume growth in the market and this would also impact base metals.

Prices of copper are further expected to rise and this rally may continue this week. Looking at positive sentiment, I expect prices to touch atleast 455 this week.

Intraday – I would suggest going long in Copper at 446 for target of 452 with stop loss of 442.

Zinc


Zinc has been quite volatile. Today morning was a new day for Zinc prices. Zinc was trading in green zone with high of 196 on MCX.

Fundamentals have been supporting Zinc prices. With LME stocks constantly falling and still no sign of metal coming back to LME warehouses, we can expect prices to rally.

Zinc is expect to rally till 201 in upcoming sessions and an investor will have to follow strict stop loss since Zinc counter has been quite volatile.

Trading tip – Buy zinc at 194.50 for target of 198 with stop loss of 193.

Lead

Buy Lead at 139 for target of 142 with stop loss of 137.50

Aluminium


Buy Aluminium at 147 for a short target of 149 and stop loss of 146.

Read disclaimer before investing 


1 comment:

Leave your comments below.

Commodity Prices

Powered by www.generatebucks.com

Post Top Ad