Thursday, 16 May 2013

MCX lead bearish for short term nickel is in buying side

Base metal has shown very different stage in commodity market some times it fluctuate but sometimes it steady on their previous position , we have to explain each and all commodity terms.. 

Lead :lead future for may delivery is expected to bearish for short term , intraday commodity has supported at 107 and resistant level 108.7   One of the reasons for this small growth at the beginning of the year, however, was the extremely cold weather. In the last quarter of 2012, the German economy had suffered a major setback of –0.7%, according to the most recent calculations

MCX nickel for May delivery was also seen trading up by 0.11% at Rs.816.30 per kilogram as of 11:05 AM IST on Thursday.

Buy nickel at 816.80 target 817, 817.50,818 SL 816.50 
Buy menthaoil at 916 target 918,920,922 SL 915

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