Base Metals - Feb 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Base metals complex traded higher with Copper, Nickel and Zinc prices rallied by more than 1% on Monday. Base metals traded strong on demand growth optimism and supply crunch in global tin markets. The rally in equity indices are also fueling the bullish bets in base metals over strong economic recovery.

Base metals are expected to trade sideways to up for the day. MCX Copper February support lies at Rs. 643 and resistance at Rs. 652. MCX Zinc February support lies at Rs. 223, resistance at Rs. 230. MCX Nickel February support lies at Rs. 1320 with resistance at Rs. 1380.

Source : Equity Bulls

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