Tuesday, January 11, 2011

Sure Shot Copper Tips

Copper (MCX-Feb'11): Copper took good support at its 20 DEMA of 429.70. Although this counter is entering in selling zone but actual selling will arise only below 429. It it cross and closed below this level then it can fall further till 422. To move upward it has to cross 439 for next target of 455. In considering economic scenario of industries, this counter is still strong and lower level buying can not ruled out.

Short term up move over and time to rise to sell side......as remain below 450..... Now in this week we may consider resistance 435-442 and support 425-420 range...... .. Last and final support exit 428.. decisively break with volume.... Free fall on the card...

This counter last weak shown some volatility but end of the week its close near to low, as we expect & mention that it can touch 430 soon. Now still more weakness looks continue till 422. This week keep your eyes on level of 439, only above this level, its looks again positive till life time high and once close above 445.5, you can hold till target 458. 

TODAY'S STRATEGY: - This counter yesterday shown up move as we expect & mention that keep shorts on rise around 439. Now still some more up move looks continues till 440-441, from those levels you can keep shorts in your hand till target 422. However any one suggest you keep buying, avoid buying and keep shorts on rise. Now today it will face resistance 439.7-441 & support 432.

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