Buy Copper in the Range of 625.50-625 SL Below 620 TGT 632/638 - Axis Securities
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Copper
MCX Copper opened sharply lower with a downward gap however buying support at lower levels recovered some of the earlier losses. The chart pattern suggests that if Copper crosses and sustains above 627 level it would witness buying which would push It towards 635-642 levels. Important support for the day is around 620 level.
BUY COPPER IN THE RANGE OF 625.50-625 SL BELOW 620 TGT 632/638
Natural Gas
MCX Naturalgas opened on a flat note and remained in a small range throughout the day. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. The price is moving in a Higher Top and Higher Bottom formation on the daily chart indicating a sustained up trend.
BUY NATURALGAS ABOVE 605 SL BELOW 590 TGT 623/630
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