Commodity markets face very rocky terrain over the second half after their trial by pandemic in the opening six months. With the third quarter starting next week, What to Watch runs the slide rule over a clutch of the major raw materials — including oil, copper, iron ore and gold — to assess pitfalls and prospects. The mixed picture suggests being selective is key.
SELL ZINCM 144.55-70 SL PAID TG 1/2/3
Buy ZincMini Apr @ 140.90 Trg 142.05-143 SL Paid
Buy LeadMini Apr @ 130.90 Trg 132.05-133 SL Paid
BUY COPPER at CMP 371.10 For Target 373.20 – 374.80 with SL Below PAID
Copper prices have been edging higher from over 2-year lows of 2.480 hit on Sept 3rd trade.
Major trend is bearish, but signs of recovery seen. Price has bounced off lower Bollinger band on the weekly charts.
Capital markets regulator Sebi on Friday added diamond, base metals and alloys to the list of eligible liquid assets for the commodity derivatives segment. Currently, the list of commodities permitted as liquid assets consists of bullion, steel and agricultural commodities.