Copper futures opened flat with a downside bias on Wednesday, pressurized by rising inventories and a soft demand outlook. Yesterday the LME copper was 1575mt against the previous of 2250mt. Copper has touched a low of Rs 318 a kg after opening at Rs 320.2, and last traded at Rs318.85.For today market is looking for the support at 316.50, a break below could see a test of 314.10 and where as resistance is now likely to be seen at 322.70, a move above could see prices testing 326.60.
Trading Ideas
TRADING RANGE IS 314.00-326.00
SELL COPPER @ 324-325 SL 328.20 TGT 322.50-319.60-317.40. MCX
A JUMP CAN BE SEEN TODAY AFTER YESTERDAY FALL IS GOOD TO SELL
MCXARUN
9994500540
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