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COPPER

MCX Copper opened on a flat note and buying momentum throughout the session let it close near the day’s high. The chart pattern suggests fh that if Copper crosses and sustains above 773 level it would witness buying which would push the price towards 779-783 levels. Important support for the day is around 766.

BUY COPPER ABOVE 773 SL BELOW 768 TGT 779/783

SILVER

MCX Silver opened sharply lower with a downward gap and selling pressure throughout the session dragged it lower to close near the day's low. The daily strength indicator RS! is oving downwards and is quoting below its reference line indicating negative bias. Silver continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.

SELL SILVER BELOW 66000 SL ABOVE 66500 TGT 64600/64000

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