Copper - April 14, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

LME Copper and other metal prices rose on Wednesday tracking the weak dollar.

Domestic Copper and the rest of the metal prices on MCX ended firm on Wednesday, tracking overseas prices.

Aluminium rose on Wednesday on worries about supplies from top producer China, where authorities are clamping down on energy-intensive industries to curb carbon emissions.

LME base metal complex have started mixed this Thursday morning in Asian trade.

Copper, Nickel, Lead and Zinc have started weak, while Aluminium and Tin have started with gains.

Technically, LME Copper could see a Bullish momentum above $9050 level up to $9130-$9200 levels. Support is at $9030-$8920 levels.

Technically, LME Nickel could trade in a range of $16100-$16550.

Domestic copper and rest of the base metal complex could open weaker this Tuesday morning, tracking overseas prices.

Technically, MCX Copper April could see a Bullish momentum up to 707-710 levels. Support is at 701-698 levels.

Technically, MCX Nickel April could see some Bullish momentum up to 1260-1285 levels. Support is at 1228-1215 levels.

MCXMETLDEX April contract could trade in a range from 14350 to 14550.

Source : Equity Bulls

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