Agricommodity Tips| Agri Commodity Market TipsCommodity Tips | Stock advisory tips | Share Market Tips Stock advisory tipsCommodity Tips Share Market Tips Stock advisory tips |
Copper futures surge on supply worries
Copper futures were trading higher during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on supply worries after shipments were shut off from the world's 2 biggest copper mines.Copper
on MCX settled up 4.49% at 408.15 as LME prices jumped above $6000 to
their highest level since June 2015, on talk of BHP Billiton declaring
force majeure on shipments from its Escondida mine in Chile.
At the MCX, copper futures for February 2017 contract is trading at Rs 411.35 per kg, up by 0.78 per cent, after opening at Rs 409.90, against a previous close of Rs 408.15. It touched the intra-day high of Rs 414.75.
Updates Visit Us www.ripplesadvisory.com or Get Free Trials Just Give One Missed Call 9303093093.
Technically market is under fresh buying as market has witnessed gain in open interest by 27.46% to settled at 17612, now Copper is getting support at 396.5 and below same could see a test of 384.8 level, And resistance is now likely to be seen at 414.3, a move above could see prices testing 420.4.
0 comments
Note: only a member of this blog may post a comment.