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Wednesday, February 4, 2009

UPDATE

MARKET ALERT AT 11.15 AM FEB 4

MCX FEB COPPER : CURRENT SUPPORT

IS AT RS.161.90, AND IF HOLDS ABOVE

166 LIKELY TO TEST RS.168 LEVELS.

HOLD LONGS.

9 comments:

sunny said...

hiii
can i buy copper at cureent level ?
wat will be the target n s l ?

sunny said...

crrent level is 164.5 can we buy ?

akshaya said...

sunny,

maintain stops at rs. 161.90 and next lower level rs, 160 for long positions in copper.
akshaya

sunny said...

means i should make buying at 160 will be more safe ?

raj said...

dear
sir
I have shot copper @ 165.50
what can i do shall i exit or wait

akshaya said...

SUNNY, YES YOUR STOP LOSS BUYING SHOULD BE 161.90 OR IF READY TO TAKE RISK RS. 160.
AKSHAYA

akshaya said...

RAJ, OUR CALL IN COPPER IN FOR BUY POSITION SINCE LAST NIGHT T RS. 162.20, FIRST TARGET IS RS. 166 AND 168.HENCE IF YOU HAVE SHORT POSITION EITHER YOU EXIT AND WAIT FOR LME INVENTORY AT 2.30 PM, OR GO LONG AT LOWER LEVLS FOR TARGETS GIVEN , AND SUPPORTS ARE AT RS. 163161.90 AND RS. 160.
AKSHAYA

akshaya said...

RAJ,

LME INVENTORY AT 2.30 PM, BEST TO WAIT FOR FRESH POSITIONS AFTER INVENTORY DATA RELEASED. AVOID POSITIONS NOW AS MOVEMENT WOULD BE VERY DICEY.
AKSHAYA

akshaya said...

SUNNY,

BEST STRATEGY IS TO WAIT FOR LME DATA AT 2.30 PM AND THEN TAKE UP POSITIONS AFRESH, AS TRADE COULD BE DICEY BASED ON INVENTORY.
AKSHAYA