Short copper with stop loss at Rs 415: Nirmal Bang
Find out the trading strategies and technical levels for various commodities.
Gold prices have given away entire gain and closed at the lower level indicating the down momentum to continue till Rs 29,000-28,900.
Silver prices gave up all the gains and end at the lower end, prices are expected to trade lower till Rs 53,300-53,000.
Copper prices are resisting the Rs 413-414 zone and witnessing selling pressure to the tune of Rs 406-404 levels. One can enter short with a stop loss above Rs 415.
Nickel prices are nearing to the resistance area at Rs 920 and one should exit all long position and enter short with a stop loss above Rs 935. prices are expected to test Rs 895 on lower end.
Lead prices are expected trade negative below Rs 105, one can sell below Rs 105 with a stop loss above Rs 106.50.
Crude prices are resisting the Rs 4,750–4,800 zone, prices are expected to test Rs 4,600 on lower end.