AHMEDABAD : MCX Copper may remain strong today taking a clue from positive ADP Non-Farm employment change and Pending homes sales, from the world's biggest economy, US. Additionally, China announced RRR cut of its financial institutions by 0.5% to expand liquidity for support its economical growth, which helped LME copper to surge double.
Technically, the main support for MCX copper is at Rs. 390 as per the current parallel channel which has been formed in 4 hr chart of the commodity. The channel has given break-out around the level of Rs. 394, according to it the near term target is looking around the level of Rs. 430-437, says Hardik Jani, research analyst with Commodity Online.
To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com
Get trading tips on your mobile
