SEPT 29 MONDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 313.80 , S2 RS 311.30

R1 RS 318.30 R2 RS 320

Uncertain market conditions resulting from a combination

of macri economic concerns and financial sector woes

are weighing heavily on the metal market , even as

fundamentals have been pushed aside.

A sustained pick up in buying will lead to price

performance.Until demand conditions stabilise

the base metal market will be volatile.

According to technical analyst , in the short

run copper is likely to be range bound.

The sideways trade could oscillate between the

resistence at $ 7200 and range low of $ 6625.

The risk of further dollar weakness means a

further coeerection is possible.