Thursday, 27 March 2014

Copper Technical Comment For 28th March

The zig zag mode of trading in Copper continued on Thursday with prices getting underpinned in the last session after a fall on Wednesday. The supports for the contract at Rs 397 per kg proved luring for the traders to cover some of the short positions created earlier in the month. The prices have also seen some sharp sell off that has taken it to a level where risks ad rewards are favoring intraday buying. Copper for April expiry settled at Rs 401.25 per kg. Closing above Rs 400 will give psychological boost to the metal for the weekend session on Friday. Â Taking Rs 398 as supports Copper is expected to see some more uptick towards Rs 405 per kg.

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