Base Metals - March 1, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Base metals complex traded mixed with Copper and Zinc prices were trading firm in the morning trade while rest of the metals were trading with marginal losses after weak China PMI data. Copper prices traded off 10 year highs with regaining momentum on US stimulus hopes and supply deficit concerns.

Base metals are expected to trade sideways to up on weaker dollar and positive equity indices. MCX Copper March support lies at Rs. 702 and resistance at Rs.712. MCX Zinc March support lies at Rs. 218, resistance at Rs. 223. MCX Nickel February support lies at Rs. 1340 with resistance at Rs. 1380.

Source : Equity Bulls

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