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Dec 24, 2012, 01.36 PM IST | Source: Moneycontrol.com

Sell MCX Copper at Rs 438.50; target Rs 436.50: Dani Comm

Dani Commodities has come out with its report on commodities. According to the research firm, one can sell MCX Copper at Rs 438.50 with a stop loss of Rs 440 for the target of Rs 436.50.

Dani Commodities has come out with its report on commodities. According to the research firm, one can sell MCX Copper at Rs 438.50 with a stop loss of Rs 440 for the target of Rs 436.50.

Crude oil futures stayed below $89 a barrel in Asia electronic trades today extending Friday’s sharp losses of nearly 1.5%. In the week ahead trading volumes are expected to remain light because many traders have closed books to lock in profit before the end of the year, reducing liquidity in the market and increasing the volatility.

Asia stocks edged higher in thin holiday-week volume Monday. Hong Kong’s Hang Seng Index and Australia’s S&P/ASX 200 added 0.2%, with both markets trading in a shortened session ahead of a two-day break. Japan was due to reopen Tuesday, and Shanghai was slated to trade for the rest of the week, but most other major markets in Asia were scheduled to close for Christmas.

Light sweet crude futures for delivery in February are trading 15 cents at $85.5 per barrel on the New York Mercantile Exchange. On Friday it lost 1.35% to settle at $88.90 a barrel. On the week, it climbed 2.3% on the week.

Oil futures ended Friday’s session sharply lower, as appetite for growth-linked assets weakened amid reduced hopes for a deal to avoid the looming fiscal cliff crisis in the U.S. before the year-end deadline.

MCX GOLD
International: Major Support at USD1700. Bearish Below USD1700.
Domestic: Sell at 30840, Stop loss 30890, Target 30760.

MCX SILVER
International: Major Support at USD29. Bearish Below USD32.
Domestic: Sell at 57950, Stop loss 58200, Target 57550.

MCX COPPER
Domestic: Sell at 438.50 , Stop loss 440 Target 436.50

MCX LEAD
Domestic: Sell at 125.80, Stop loss 126.30 Target 125

MCX ZINC
Domestic: Sell at 113, Stop loss 113.40 Target 112.20.

MCX ALUMINIUM
Domestic: Sell at 113.20 Stop loss 113.70 Target 112.50.

MCX NICKEL
Domestic: Sell at 955 Stop loss 961, Target 948.

MCX CRUDE OIL
International: Major Support for WTI at USD84, Bullish above USD 91
Domestic: Sell below 4890, Stop loss 4920, Target 4850.

MCX NATURAL GAS
Domestic: Buy at 189, Stop loss 187, Target 192.

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