copper intraday

LME copper support at 349.50
10 July 2008 11:29:41

Yesterday the LME copper was 2150mt against the previous of 100mt. Copper has touched a low of Rs 347 a kg after opening at Rs 353.55, and last traded at Rs355.95.For today market is looking for the support at 349.50, a break below could see a test of 342.90 and where as resistance is now likely to be seen at 359.80, a move above could see prices testing 363.60.

Trading Ideas

• TRADING RANGE IS 343.00-364.00.
• BUY COPPER @ 350-352.40 SL 348.60 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 THEN CAN SHOW 358 LVL.

MCXARUN