AHMEDABAD (Commodity news world): MCX Copper traded higher on Monday late night trade following overseas market trends, but a strong rupee kept the uptrend limited. Copper April delievery contract was trading more than 4 percent higher from last week close of 422.60 and made high of 433 rupees per kilogram.
Copper price remains upbeat on positive note of demand outlook in international market. On wednesday, MCX Aluminum future for April opened at 428.40 rupees. Resistances for the contract are at 435 rupees and instant support looks at 425 rupees for coming days.
The prices have bounced after a series of fall in the market last week due to gain on lower LME stocks and some buying at lower level, according to Amrita Mashar, Commodity Analyst with Commodity Online.
Overall, Copper prices may remain upbeat till prices are supported at 420 levels on daily basis. One can buy Copper April contract near 429 rupees by maintaining stop loss of 427 for target near 434 in intraday trade, added Amrita.
Copper price remains upbeat on positive note of demand outlook in international market. On wednesday, MCX Aluminum future for April opened at 428.40 rupees. Resistances for the contract are at 435 rupees and instant support looks at 425 rupees for coming days.
The prices have bounced after a series of fall in the market last week due to gain on lower LME stocks and some buying at lower level, according to Amrita Mashar, Commodity Analyst with Commodity Online.
Overall, Copper prices may remain upbeat till prices are supported at 420 levels on daily basis. One can buy Copper April contract near 429 rupees by maintaining stop loss of 427 for target near 434 in intraday trade, added Amrita.
No comments:
Post a Comment