Monday, February 9, 2009
TECHNICAL UPDATES FOR FEB 9 2009
FEB 9 MONDAY
Todat we could see a break and trade above the resistance
of Rs 175.20.
This level could now become a strong support ( closing
basis ) .
Daily charts indicate that the contract is now in over
bought territory but still no sign of a correction
yet.
This means that as prices go up , profits on long
position should be taken as the risk of a correction
is now increasing.
The contract could test Rs 181 / 185 / 187 before any
major correction.
Todat we could see a break and trade above the resistance
of Rs 175.20.
This level could now become a strong support ( closing
basis ) .
Daily charts indicate that the contract is now in over
bought territory but still no sign of a correction
yet.
This means that as prices go up , profits on long
position should be taken as the risk of a correction
is now increasing.
The contract could test Rs 181 / 185 / 187 before any
major correction.
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3 comments:
can i buy copper at sl of 175.2.
CHAKLO,
AVOID FRESH POSITIONS TILL FURTHER ADVISE IN OUR SITE.
AKSHAYA
I sold feb lot copper @ Rs. 156.50. What is long term trend and short term trend?
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