Metals: Base metal futures on MCX were trading higher
due to the weakness in rupee against the dollar, but a rangebound
movement in benchmark contracts on the London Metal Exchange limited the
rise. On LME, base metal contracts traded higher earlier in the day on
bargain buying and as the initial shock over the Cyprus debt deal eased
to some extent
MCX Lead March contract is looking negative for the day. Market may find support near 116.80, 115.70, intraday resistance can be seen near 118.80 & 119.80 Day traders are advised to sell intraday on rise. (Sell around 118.80 with SL 119.80 for the target of 116.80 & 115.70)
MCX Lead March contract is looking negative for the day. Market may find support near 116.80, 115.70, intraday resistance can be seen near 118.80 & 119.80 Day traders are advised to sell intraday on rise. (Sell around 118.80 with SL 119.80 for the target of 116.80 & 115.70)
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