Wednesday, February 1, 2012

MCX Copper Updates For Today: 1st Feb '12

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Base metals began to deteriorate in the domestic market. MCX has been volatile in all metals. Per cent in the domestic market has declined by half in nickel, copper and lead, while the light is weak. The aluminum and zinc are traded on the pressure.
Copper is looking in a downtrend, it is now trading at 416 levels and may get more down trend in its intraday trading. It has a resistance level of 420 and a support level of 412.

We suggest to sell MCX copper. Copper prices are trading within the channel, prices are expected to test 412 - 410 on lower end, one can sell around 416.

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