Base metal today is quite volatile. MCX aluminum is slowness. While copper is about 1 per cent rise. The nickel price has jumped about 3.5 percent. Lead and zinc also continues to increase on MCX.
Rupee reached at 11-month high. Of course it have gained in hopes of a stable government in India. Although the strengthening has had a major impact on the domestic commodity markets.
All base metals except aluminum metal are trading in green.
MCX Copper (June futures): Sell - 415, stoploss - 419.5 and Goals - 408
MCX Nickel (May futures): Buy - 1140, stoploss - 1125 and target - 1165
By KheloMCX Research Services