Today copper February contract on mcx has broken
its resistance of 402 and confirmed a short term bullish breakout with
an inverse head and shoulder pattern. MACD above 0 lines with bullish
crossover supporting our bullish view. Retest of previous resistance
can’t be ruled out but copper has defined 378 as very strong support and
buying around 390-395 area would be a good trade decision with stop
loss of 378 on daily closing basis for expected targets around
430-445-465 in midterm. In case of any type of trend change we will
update you buying around said price range will be good entry. Or u can
accumulate with small quantity till said stop loss price but best buying
zone is 395-390 or below this range only.
Mcx Tips Trends :-
CH GOLD VIEW
TREND – CONSOLIDATE
STRATEGY- BUY ON DIPS
RES1-29950
RES2-30180
SUP1-29630
SUP2-29350
TREND – CONSOLIDATE
STRATEGY- BUY ON DIPS
RES1-29950
RES2-30180
SUP1-29630
SUP2-29350
CH SILVER VIEW
TREND – CONSOLIDATE
STRATEGY-SELL ON HIGH
RES1-53850
RES2- 54750
SUP1-51870
SUP2-50500
CH COPPER VIEW
TREND- CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-427
RES2-435
SUP1-415
SUP2-406
CH CRUDE VIEW
TREND- CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-5035
RES2-5110
SUP1-4890
SUP2-4810
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