4 June 2015

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BASEMETAL'S INTRADAY POSITIONAL UPDATE

YESTERDAY BASEMETAL'S GAVE GOOD BOUNCE BACK FROM THEIR LOW LEVEL'S AS COPPER (385.80), LEAD(122.55), ZINC(137.40), ALUMINIUM(110.10)

ALL OF THEM ARE STILL LOOKING STRONG AS LONG AS THEY HOLD YESTERDAY'S LOW ON CLOSING BASIS

I ADVICE TO STAY LONG AND BUY BM'S ON DECLINE AT THEIR SUPPORT LEVEL AS WE MAY SEE A NICE SHORT COVERING IN DAY AHEAD..
RUPEE WEAKING IS ALSO A REASON FOR STRONG BASEMETAL'S AS RISING DOLLAR AGAINST INR GIVES CUSHION TO PRICE.

BUT BE AWARE ABOUT YOUR STOP LOSSES AS TREND MIGHT CHANGE ANYTIME ONCE THEY BREAK THEIR CRUCIAL LEVEL DOWN SIDE AND THEN WE MAY SEE SOME 5-10% DECLINE IN ALL BM'S AND HENCE KEEP VIGILENT ABOUT PRICE'S

I WILL KEEP ON POSTING LEVEL'S AND CALL'S ONCE THEIR IS ANY REVERSAL SEEN IN BM'S

ALUMINIUM INTRADAY CHART

LEAD INTRADAY CHART


ZINC INTRADAY CHART


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