Copper can move up till Rs 420-425: Sharekhan
Sharekhan has come out with its report on Copper. According to the research firm, unless the swing low of Rs 401.45 is broken, metal can move up till Rs 420 and Rs 425.
April 09, 2013 / 18:07 IST
Sharekhan has come out with its report on Copper. According to the research firm, unless the swing low of Rs 401.45 is broken, metal can move up till Rs 420 and Rs 425.
Copper heading for a breatherMCX Copper has fallen sharply in the last few months. However, the fall has halted at a level from where it had reversed in the recent past. Along with that copper has taken support near a medium-term rising trendline. Thus, the red metal looks poised for a short-term bounce. The daily momentum indicator is recovering from an oversold territory. Unless the swing low of Rs 401.45 is broken, copper can move up till Rs 420 (the 40- daily exponential moving average) and Rs 425 (the daily upper Bollinger Band).
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