Yesterday the LME copper was -575mt against the previous of -325mt. Copper has touched a low of Rs 272.3 a kg after opening at Rs 288, and last traded at Rs280.55.
For today market is looking for the support at 272.60, a break below could see a test of 264.60 and where as resistance is now likely to be seen at 288.30, a move above could see prices testing 296.00.
Trading Ideas: TRADING RANGE IS 273.00-288.00.
BUY COPPER @ 279-280 SL 277.80 TGT 281.20-282.70-283.50. MCX
YESTERDAY AS EXPECTED 270-272 WILL THE SUPPORT LEVEL MKT ALSO JUMPED FROM THT LEVEL BUT AS
CHINA MKT IS CLOSED AND US MARKET IS UNDER PRESSURE COPPER CAN SHOW FURTHER LOW TOWARDS
260-265 LEVEL IMP WILL THE MINES UPDATE.
Courtesy: JRG Wealth Management
