Friday, May 23, 2008
UPDATES
MAY 23 FRIDAY
SHORT TER48.50M TREND : BEARISH :TARGET RS 341
LONG TERM TREND : BULLISH : TARGET RS 370
Prefer short at Rs 348 to Rs 348.50 stop loss Rs 352 Target Rs 342.20
Copper future pared early gaing to close down on Thursday after a rebound
in the Dollar led to a broad based sell off in the Metals complex.Trade Data
showed Chinese import of refined copper sank 31 % in April from year ago
levels.China imported 127,977 Tonnes of refined Copper in April.
LME Copper have increased by 10 % since the begining of May leding to
some concerns over the demand of the metal.
SHORT TER48.50M TREND : BEARISH :TARGET RS 341
LONG TERM TREND : BULLISH : TARGET RS 370
Prefer short at Rs 348 to Rs 348.50 stop loss Rs 352 Target Rs 342.20
Copper future pared early gaing to close down on Thursday after a rebound
in the Dollar led to a broad based sell off in the Metals complex.Trade Data
showed Chinese import of refined copper sank 31 % in April from year ago
levels.China imported 127,977 Tonnes of refined Copper in April.
LME Copper have increased by 10 % since the begining of May leding to
some concerns over the demand of the metal.
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