Ahmedabad (Commodity Online) : MCX copper opened at 419.2 after closing at Rs. 419.35 on Saturday and it is expeceted to remain positive today as expected economical datas(German factory orders and GBP Halifax HPI) from Europen zone are supporting the up side rally.
The prices may form a suitable platform near Rs. 415 from where the buyers may get activated and may drag price to Rs. 420-423 for intraday.
On daily basis if MCX copper is closing below 413.5 then it may hurt the sentiments of buyers, which can become a golden opportunity for sellers to renter the market with stop loss of Rs. 416 for the target of Rs. 410-408. But mean while for the intraday bulls may command the session.
The prices of base metals (especially copper) may get influenced by report released by IMF that China's growth may slow down taking into account the current scenario of European economy.
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