TUESDAY 11.00 AM IST

MARKET UPDATE

Base metals are trading lower in morning trade ,

The prices continued to be under pressure 

and  unable to hold above resistances .

Copper opened higher in yesterdays trade  as a result 

of a major bounce in the US markets on close on Friday .

In the Mcx high was around 453,.35

In the morning session broke the important support of Rs 450

And traded in a range for a while .,

Gave a false break out of Rs 451.50 in the evening session

and then traded sharply lower as US markets gave up

most of their gains ,

Low came Rs  448.50

TODAYS TRADING  LEVELS 

Currently trading at Rs 449.85 

Immediate resistance seen at Rs  450.30

Above that it could face resistance  at Rs 452 and 454.50

Supports are now seen at Rs 448.50/ 447 and 445.50

Analyst say there is a cutting down of long positions 

by traders in Copper 

We will keep updating 

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