THERE MAY BE TWO POSSIBILITIES IN BASE METALS:
1. EITHER THEY ARE BOTTOMED OUT : SINCE SILVER AND GOLD ARE SHOWING SIGNS OF STRONG REVERSAL , COPPER MAY FOLLOW SILVER ON UPSIDE AND COPPER MAY PULL OTHER BASE METALS ON UPSIDE......ALSO USD/INR MOVEMENT WILL ALSO SUPPORT BASE METALS FOR UPSIDE MOVEMENT
OR
2. THERE IS STILL DOWNSIDE REMAINING FOR ALL BASE METALS.......SO THERE WILL BE SOME SIDE WAYS MOMENTS AND BREAK OUT BELOW LAST WEEK LOW.....
WE HAVE PUT OUR VIEWS BELOW ......
Copper: SL below 330 TGT 457 if sustain above 458 then TGT 559+
OR
Sell Below 340 TGT 333-302.50
Zinc: SL 124 buy above 129 TGT 133-134........THERE IS POSSIBILITY OF REVERSAL AT or BELOW 133-135 tgt 111-101.05
OR
Sell Below 129 TGT 111- 101.05
Lead: Buy with SL 108 TGT 133, 144, 175.45+......There is possibility of reversal at or below 133.50 or 144....if sustain above 144 then TGT 175.45
OR
Sell Below 108 TGT 104.25...( We may see reversal from 104-105 area) but.IF Stay below 104.25 on daily closing basis then TGT 101-97.50
Aluminium: SL 108 buy above 114 TGT 130+ if sustain above 131 then TGT 151+.....there is possibility of reversal at or below 133.20.....
OR
Sell Below 108 TGT 104.50
