MCX copper currently traveling in the range of INR 411 to INR 407 further the resistance is looking around the level of INR 412 which is not looking to get broken unless any news comes to push copper above that level, otherwise the metal may travel under the current range of INR 412 to INR 407.

The expectation that ECB is going to decrease the interest rate is rotating in the market traders may watch the ultimate outcome of the issue for taking any clue for further rally. Dollar Index opened today at 78.43 and it is expected to remain in pressure for current session.

Mr Hardik Jani research analyst said that the current market is also anticipating positive outcome of the Unemployment claims data which is going to get released. Meanwhile, the traders are suggested to buy around INR 407 with stop loss of INR 405 for the target of INR 410-412. And to sell at 412 with stop loss of INR 415 for the target of INR 409 to INR 407.

(Sourced from Commodity Online)