Copper: 

Copper prices retraced from its swing highs at 420.50 and the counter settled around 416.45 levels yesterday. Sustenance above 418.50 levels will see prices advance towards 420.50/421 areas once again. Breakdown and sustenance below 415 levels will be negative for the counter as prices in that case can head lower towards 412/410.50 levels.

Zinc: 

Zinc bounced from its intraday lows at 150.20 levels and the counter closed with a gain of 0.89% yesterday. The counter needs to sustain above 153.60 levels for prices to advance higher towards 154/154.35. Selling can drag prices lower if prices advance towards 154 areas. Failure to trade above 153.60 will see prices gradually drift lower towards 151.

Lead:

 Lead prices have managed to rebound from its support areas around 132—131.40 areas. If prices sustain above 134 then prices can advance higher towards 135—135.50 areas as the session progresses. A daily close below 132 will be bearish for the counter. Until then, prices will continue to move higher towards 135.50 levels.

 Nickel:

 Nickel prices bounced from support areas around 880—885 levels and the counter closed with a gain of 1.90% yesterday. Counter has immediate resistance around 922.50—925 areas. Failure to trade above this supply areas will see prices correct towards 905/900 levels again. A daily close below 900 will see prices move towards 880-885 areas. We don’t expect prices to move past 932.60 levels today.

Aluminium: 

Aluminium prices closed down with a cut of 1.60% yesterday. Prices have pulled back from its intraday lows at 119.40 levels and if the momentum persists then prices can test resistance areas around 121.50—122 levels. The bias for the counter remains negative until prices stay below 123 levels.