AHMEDABAD (Commodity Online): MCX Copper February contract trading in a tight range in today's session after yesterday's positive closing. Currently MCX Copper February future trading at 415.35, down by 0.08 percent by 16:52 IST. It touched an intra-day high of Rs 418.40 and an intra-day low of Rs 414.55 till the trading.
Base metals sentiment was lifted in yesterday session after Greece and its international lenders struck a deal on the 130 billion euro second bailout aid for the struggling economy, easing concerns over the lingering debt contagion in Europe and improving the demand prospects for industrial metals such as copper.
Copper prices expect to trade positive in the evening session, as US Existing Home Sales is likely to shown more improvement. Technically MCX Copper February contract having good support at Rs 410 and Resistance at Rs 422, says Ankush Kumar Jain, Analyst with Commodity Online.
Intra-day traders advised to buy Copper February contract around Rs 413 with stop loss of Rs 410 for target near Rs 418, added Jain.
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
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