copper intraday

LME Copper trading range 340.80-374.70
09 July 2008 11:53:53

Yesterday the LME copper was 100mt against the previous of -500mt. Copper has touched a low of Rs 351.55 a kg after opening at Rs 367, and last traded at Rs353.05.For today market is looking for the support at 346.9, a break below could see a test of 340.75 and where as resistance is now likely to be seen at 363.85, a move above could see prices testing 374.65.

Trading Ideas

• TRADING RANGE IS 340.80-374.70.
• BUY COPPER @ 351-353 Sl 349.60 TGT 354.60-356.20-358. MCX
• SELL COPPER @ 358-360 SL 362.50 TGT 356.20-353.70-350.50. MCX
• ONCE MKT IS ABV 354 LVL THAN CAN SHOW 358 LVL.
• IMP SUPPORT IS 132$ MCX. 5820-5680 SUP

MCXARUN