Commodity Lead:
The commodity Lead March future prices at MCX is traded above in previous trading session’s high of 111.90. The commodity lead tested its higher levels of 112.95 during the day. The 14 days RSI in daily chart for commodity market is at 39 which suggest Lead future prices are likely to rise further.
The Lead March contract at MCX and NCDEX is opened at 111.30 per Kg. It last traded at 113.The contract faces resistance near 118 while its support is seen near 111.
Positional Traders can buy MCX Lead March contract above 113.50 with the stop loss of 110.50 and can wait for target of 117.50.
Commodity copper:
The commodity copper contract for April is traded above 10 days linear regression. On commodity MCX it tested its lower levels of 411.60 during the previous week and it is traded within the range of 412-424 during last few trading sessions.
MCX Copper April contract opened at 423.05 per Kg. It tested intraday low of 415.50 and last traded at 420. The contract faces resistance near 445 while its support is seen near 416.
Short term traders at commodity can buy MCX Copper April contract above 425 with stop loss of 415 and can wait for target of 440.
The commodity Lead March future prices at MCX is traded above in previous trading session’s high of 111.90. The commodity lead tested its higher levels of 112.95 during the day. The 14 days RSI in daily chart for commodity market is at 39 which suggest Lead future prices are likely to rise further.
The Lead March contract at MCX and NCDEX is opened at 111.30 per Kg. It last traded at 113.The contract faces resistance near 118 while its support is seen near 111.
Positional Traders can buy MCX Lead March contract above 113.50 with the stop loss of 110.50 and can wait for target of 117.50.
Commodity copper:
The commodity copper contract for April is traded above 10 days linear regression. On commodity MCX it tested its lower levels of 411.60 during the previous week and it is traded within the range of 412-424 during last few trading sessions.
MCX Copper April contract opened at 423.05 per Kg. It tested intraday low of 415.50 and last traded at 420. The contract faces resistance near 445 while its support is seen near 416.
Short term traders at commodity can buy MCX Copper April contract above 425 with stop loss of 415 and can wait for target of 440.
Commodity Zinc:
The commodity Zinc March contract for yesterday is showed market movement 0.05% and the commodity futures for zinc has opened at 103 & made a low of 102.9 versus the day high of 103.3.
Now support for the Zinc futures is seen at 102.8 and below could see a test of 101.3 while Resistance is now likely to be seen at 103.2, a move above could see prices testing 103.5.
The Zinc March contract is trading near the range of 101.7-105.4. The Short term traders at commodity can sell MCX Zinc March contract near 105.5 with the stop loss of 107.2 and can wait for the targets of 103.1 and 101.7.
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