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Daily trading bites: Buy MCX Copper around 442 -
Daily trading bites: Buy MCX Copper around 442
Way2wealth | Published: 01 Nov, 2017  | Source :


For last few weeks, copper prices have been moving within the rising trend channel and currently prices are heading towards the lower band supports of the channel. Ahead, we could see prices’ taking supports around 440 levels and will witness sharp re-bounce. Thus, we recommend buying on dips around 442 levels with stop loss at 436 levels


Zinc prices have been gradually trading higher from the trendline supports In yesterday’s session it breached the resistance of immediate swing high and strongly settled above that. Going forward, prices will once again continue to move along with rising trend channel and thus recommend buying around 212.50 for upside targets of 218.


On Tuesday, cocud prices witnessed supports near the multiple low at 1470 and rebounded slightly and settled at 1493. As prices taking supports near the multiple low is indicating re-bounce in coming sessions. Hence, we recommend buying at 1484 for targets of 1540 then 1580.



In line with expectation turmeric prices opened lower at 7102 and tumbled till the low of 6902 in the first half. In the later session it recovered sharply and ended at 7080 just below the trend line resistance. Ahead prices are likely to continue to trade lower and advice selling around 7100 for downside targets of 7000 then 6800.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.