Script | Nickel | Aluminium | Lead | Zinc |
Resistance 2 | 1153 | 119.6 | 110.3 | 101.6 |
Resistance 1 | 1134 | 118.3 | 108.1 | 99.7 |
Pivot point | 1108 | 116.4 | 103.6 | 95.8 |
Support1 | 1089 | 115.1 | 101.4 | 93.8 |
Support 2 | 1063 | 113.2 | 97 | 90 |
Strategies (Intraday)
NICKEL
Figures that will matter are 1105-1109, Nickel trade above 1109 will be the indication to go long, where 1100 need to be set as stop loss and resistance 1129-1135 and 1148-1154 may be consider as first and second target.
Otherwise trade below 1105 for some time will be the hint to go short, where 1114 is required to be place as stop loss and support-1 1091-1085 and support-2 1068-1062 may be used as expected targets.
ZINC
For Monday's trading session, important figures to watch are 95.3-95.9 range. Trading range of Zinc is expected as 101.6-90. Trading above 95.9 may trigger a short upside rally to 98-98.3, crossing which may rise Zinc further to 99.9-100.4.
Trading below 95.3 for some time may take Zinc downward to 93.8-93.1 and again break below 93.1 may starts its more downward movement to 92-91.6
Stop for the buy will be 95.0 and for the sell will be 96.1.
ALUMINIUM
For 09 May, Aluminium need to be cross 116.5, without breaking 115.9 (stop loss)afterward to continue its upward journey to a mild resistance at 118.1-118.5 and if able to break this resistance then may go to the second resistance 119.5-119.7 also.
And if break below 116.2 without crossing 116.8 (stop loss) afterward, then there may be little selling to 115.2-114.7, and if able to hold below -114.7 Aluminium is expected to fall further more to113.3-113.0
LEAD
Keeping in mind the trading behavior of the previous session, Lead break and hold above 103.6 may encourage the traders to go long with the stop of 102.9, upside targets would be 105.2-105.5 and 107.3-108.1
And trade and remained below 103.0 for 5 to 10 minutes may be discouraging for bulls, traders may go short below 103, stoploss 104, and the targets for the bear would be 101.5-101.1 and 100.0-99.4.
Nickel, Zinc, Aluminium and Lead
Like Copper, MCX also offer the commodity future trading in Nickel, Zinc, Aluminium and Lead, and all theses commodities comes under Base Metals category, Lots size for Nickel is fixed at 250Kg and for Aluminium, Zinc and Lead is fixed at 5000Kg. and the trading cycle of all the base metals future contracts is fixed for 3 months (1st month, 2nd month and 3rd month)
