Quantcast
Other Stories
Gold
(2015-04-03)
29240(0) (LTP)
Gold
(2015-04-03)
29240(0) (LTP)
Gold
(2014-09-26)
25626(0) (LTP)
Gold
(2014-09-26)
25626(0) (LTP)
23 Apr 2014
28487 Pivot
23 Apr 2014
42082 Pivot

MCX copper overall trend looks sideways and prices can move down if it is unable to breach Rs.455 on higher side.

10 Jan 2013

By Ankush Kumar Jain
MCX copper futures is trading on a positive note in today's session as Chinese exports picked up.

China has made a turn around as data suggests exports jumped by 14% in December from a year earlier beating the Bloomberg estimates of 5%.

MCX copper overall trend looks sideways and prices can move down if it is unable to breach Rs.455 on higher side.

Technically Copper February futures have been trading in the range between Rs 455-447 from last 7 trading sessions and now a breakout to any of the side would give a clear direction for copper prices for coming sessions.

If copper prices sustain below Rs.447 then it may touch Rs.442 levels very soon.

Intra-day traders are advised to short sell copper futures around Rs.451-452 with stop loss of Rs.455 and wait for the target near Rs.447.

MCX copper for delivery on February 28 was seen trading at Rs.450.15 a kilogram a gain of 0.6% as of 05.45 PM IST. (Ankush Kumar Jain is Research Analyst, Commodity Online)

Reach Commodity Online at its service phone number: 079 40275050


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED