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MCX Copper Updates
Copper jumped over 2%, swept up in a broader-based rally in the base metals and equities, as investors' concern about Europe's debt crisis eased and Chinese growth prospects turned more positive. Copper futures for May delivery closed up by 2.2%% at $3.7205 per pound on the COMEX of the New York Mercantile Exchang. Technically it is looking consolidate unless these is any hike in commodity market. Copper has a resistance of 425.2 and a support level of 417.8.
Trading Call: We suggest to Buy MCX Copper (Apr) above 418.5 for the target of 422-425 and a stoploss of 417.
MCX Gold Tips
MCX Gold suggest that prices are trading near a crucial resistance of 28800. Stochastic is loosing its strength. We expect prices to correct up to levels of 28500 if prices trades below 28700.
Trading Call: Sell MCX Gold below 28700 with a stoploss of above 28800 for target of 28500.
MCX Silver Tips
MCX Silver suggest that prices have reversed after taking resistance at 57200 levels. Stochastic is in a sell mode. We expect prices to correct up to levels of 56500.
Trading Call: Sell MCX Silver below 57000 with a stoploss of above 57200 for targets of 56500.
