Friday Commodities July Base metal prices may trade on lower note as Greece factor however a temporary respite to prices will be provided by recovery in Chinese markets.
As per Friday market outlook MCX copper price will likely to trade with bearish note as weakness in global demand will exert pressure on price.
MCX Copper has strong short term support near Rs.356.50 - 354.70 - 351.50 - 348.50 level whereas strong intraday resistances are placed at Rs.360 - 364.50 - 366.50. As long as above Rs.351.50.
MCX Nickel has key supports at Rs.712 - 704 - 690 - 682 whereas Rs.737- 745 - 760 may act as strong resistances. Buying on dips is advisable as long as Rs.690-704 zone is held on the downside.
MCX Lead has strong short term resistance near Rs.115.20 - 116 - 116.60 whereas supports are placed at Rs.113.50 - 112.60 - 112.20 - 111 levels. Pullback towards resistance zone is expected for the session. Break below 113.50 would be bearish for the pair.
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