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MTECHTIPS:-Technical Comment for the Day: Copper

MTECHTIPS:-Technical Comment for the Day: Copper

Copper recovered ground with high volumes on 10 August 2015. The prices of Copper settled at Rs 338.95 per kg against Rs 329.70 per kg on 7 August 2015. The gains in Copper tested a high of Rs 340.65 per kg and a low of Rs 328.65 per kg. Open interest of Copper was down on Monday, majorly due to squaring off long positions. The total open interest was 22278 lots on 10 August 2015 against 24285 lots on 7 August 2015. For Tuesday, gains above Rs 340 are expected with Copper resistance at Rs 342. Supports for Copper will be at Rs 335 per kg.
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