MCX Copper surpassed the levels of Rs 340 that was acting as psychological resistance. The prices are now under a free run toward s Rs 345 if profit booking doesn't chip in. The Metal closed at Rs 340.40 per kg on 7 March 2016 against Rs 339.20 per kg on 4 March 2016. With the breach of double top the prices are looking to move towards Rs 350 per kg in the medium term.
The prices tested levels of Rs
341.90 per kg as highs and Rs 338 per kg as a low. Volumes gained
during the session. The holiday thinned session saw Copper declining
to 26586 lots on 7 March 2016 against 67624 lots on 4 March 2016.
Open interest declined to 13972 on 7 March 2016 against 13878 on 4
March 2016.
Thanks With