Base metals trading tips for 5th Sep, 2018 – Generatebucks - Localslot

Wednesday, September 5, 2018

Base metals trading tips for 5th Sep, 2018 – Generatebucks

Looking at international markets, all base metals are losing shine and the credit goes to the US-China trade war.

Analysts aren’t seeing any positive fundamentals for near future and all base metals are expected to follow a bearish trend but MCX has a different story to say. - Falling Rupee

Where are we heading with Rupee

MCX markets have been trading higher compared to all international markets. The reason is decline is Indian Rupee. We saw Indian Rupee opening with stability but looking at the current Forex trend, Rupee has decline and is expected to decline further.

Currently Rupee has been trading at 71.98 and analyst are preparing themselves for more decline. We could also see Rupee touching 72.50 in upcoming sessions

It is expected that RBI would intervene at this level and we could see Rupee being stable but looking at current market trends we may be record low.

Rupee has fallen around 14% this year and this is major cause of concern for investors.

Looking at base metals, they are trading higher and we see a bullish trend because of fall in Rupee


Copper was expected to trade below 414 today but has a green opening. The trend is negative and it is not advisable to have a long position looking at trade war concerns.
Currently Copper is trading at 418 on MCX and this would be a great price to initiate short position
Intraday traders can enter market with short positions at 418-419 keeping a SL of 422 and target of 412-411 in upcoming sessions. Be ready to hold your positions till Monday


Aluminium did outperform other base metals and now is losing battle. Based on decline in Rupee, I would recommend a short trade since I expect Aluminium to trade sideways.
Buy at 147.10 for target of 148.50 and SL of 146.50. If you plan to enter the market in the evening, it will be better to initiate a short position with target of 145


Nickel has been beaten completely by trade war and we don’t see much upside despite decline in Rupee. Sell on rise should be your strategy for today.

Read disclaimer before investing.

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