Last Updated :
30 June 2008 at 15:00 IST
MCX base metals on right track since opening
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.
MCX POTATO 15 May 2012
contract was trading at
Rs 626 , up Rs. 4.2 . What's your view on it?
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