Sell MCX Copper at Rs 419; target Rs 415: Dani Commodities
Dani Commodities has come out with its report on commodities. According to the research firm, one can sell MCX Copper at Rs 419 for target of Rs 415 with a stop loss of Rs 421.5.
July 25, 2013 / 17:47 IST
Dani Commodities' report on MCX Copper
Copper remained struggling to move past the Resistance of Rs 423 per kg. The metal is witnessing lack of trading interest in August expiry contract ahead of expiry. The prices closed at Rs 419.6 per kg on Wednesday. Further sell off in the contract is expected to take the metal towards Rs 415 per kg in intraday. Channel trades are still intact between Rs 425 and 411 per kg for medium term. Volumes have been pretty low in the contract. Last night, Copper generated a total volume of 77227 kgs, much less than 100000 kgs a month before.Trading Strategy: Sell MCX Copper at 419 Target 415 SL 421.5Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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