Technical Comment For The Day: Copper

Copper recovered on the trades ending Friday and settled the day at Rs 403.9 per kg. The metal tested a high of Rs 407 per kg and a low of Rs 402.4 per kg. The recovery has also opened gates for fresh round of buying with resistances now nearing Rs 406 and 407.5 per kg. On the lower side, supports for Copper are emerging at Rs 400 per kg. Volumes of Copper dipped to 23639 kgs on 5 December 2014 against 33098 kgs on 4 December 2014. Open interest in Copper was marginally higher to 12707 against 12573 lots on Thursday.


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