Base Metals - Nov 2, 2020 - Mr. Tapan Patel- Senior Analyst (Commodities), HDFC Securities

Base metals prices traded mixed with most of the metals kept steady trading range on stronger dollar and demand worries after Lockdown in Europe. Base metals held some grounds after China Caixin Manufacturing PMI came at 53.6 against forecast of 52.9. Copper prices may trade under pressure following weak global equity indices and demand growth concerns.

We expect base metals to trade under pressure on weak global cues and stronger dollar with MCX Copper support at Rs. 520 and resistance at Rs. 528. MCX Nickel November support lies at Rs. 1120, resistance at Rs. 1150.

Source : Equity Bulls

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