Metals: Domestic base metal futures were trading lower
tracking the fall in benchmark contracts on the London Metal Exchange
and due to firm rupee against the dollar. Base metal futures on the LME
traded lower on concerns over demand from China and rising inventory in
exchange warehouses. Metal prices came under pressure also because of
lower-than-expected rise in China's manufacturing Purchasing Managers'
Index.
MCX Copper April contract is looking negative for the day. Market may find support near 406 & 403; intraday resistance can be seen near 411 & 414. Day traders are advised to sell intraday on rise. (Sell around 411 with SL 414, for the target of 406 & 403.)
MCX Nickel April contract is looking negative for the day. Market may find support near 889, 878, intraday resistance can be seen near 905 & 916. Day traders are advised to sell intraday on rise. (Sell around 905 with SL 916 for the target of 889 & 878.)
MCX Copper April contract is looking negative for the day. Market may find support near 406 & 403; intraday resistance can be seen near 411 & 414. Day traders are advised to sell intraday on rise. (Sell around 411 with SL 414, for the target of 406 & 403.)
MCX Nickel April contract is looking negative for the day. Market may find support near 889, 878, intraday resistance can be seen near 905 & 916. Day traders are advised to sell intraday on rise. (Sell around 905 with SL 916 for the target of 889 & 878.)
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