In base metals, Copper is trading lower on Multi commodity exchange of India. Taking cues from LME, a slight decline of has been seen in copper commodity. Near term trend is consolidated within the range of 412-424 however a breach in either side can change the trend. Technically intraday trend is looking positive above 418.00 level while below 414.50 It way suffer some more decline.
Nickel, on the other hand, is trading up 0.28% and it is likely tp persist this trend for the day. Day traders can buy MCX nickel above 938, for targets of 945-955.
There has been a surge in crude oil. NYMEX crude slipped 0.5 per cent to trade at 79 dollars a barrel. However intraday trend of domestic crude is positive.