MCX base metals on right track since opening
Published on June 30, 2008 at 15:00
Cues coming from the international markets have helped Base metals to trade with positive undercurrents since the opening on MCX. Major gains have been registered in Copper and Nickel while the other metals are following the rally. LME Inventories data due to be released later this day now becomes crucial as the depletion will further enhance the prices towards Resistances.
MCX Nickel is trading at Rs 944 per kg so far with gains of Rs 6. Resistances for the contract are at 954 levels with Supports at 936 levels.
Copper prices gave fresh breakouts in the trading session today. This made Copper a new contender for the rally.The price of copper rose to a one-month high above $ 8545 per tonne in LME futures trade on Friday as a weaker dollar, falling warehouse stocks, and possible labor issues in Peru helped provide the underpinnings for the stronger price action. The dollar extended declines against the euro this week after U.S. stock markets accelerated their losses.
The natural response of villagers in times of drought and floods is to leave their crops and cattle to flee to cities. But ICRISAT in association with a woman's self help group in Andhra Pradesh demonstrates how information technology and involvement of farmers can help predict such natural calamities and deal with them 
