Weekly call : Buy copper
WEEKLY CALL :
BUY COPPER (FEB CONTRACT) : AROUND 406 - 407, TARGET 1 - 415,
TARGET2 - 419, STOPLOSS - 400.
ANALYSIS :
Copper prices made a new life time high on both LME and MCX. Tighter supply prompted investors to bet on the red metal.
After two consecutive months of decline in copper imports by China, November months imports came in at 351,597 tonnes, higher by 29
percent. This came in as a surprise and many were expecting continuation of declining imports as the arbitrage window largely remained closed.
This is indicating that the demand continues to remain strong and thereby prices might continue TO MOVE HIGHER....
WEEKLY CALL :
BUY COPPER (FEB CONTRACT) : AROUND 406 - 407, TARGET 1 - 415,
TARGET2 - 419, STOPLOSS - 400.
ANALYSIS :
Copper prices made a new life time high on both LME and MCX. Tighter supply prompted investors to bet on the red metal.
After two consecutive months of decline in copper imports by China, November months imports came in at 351,597 tonnes, higher by 29
percent. This came in as a surprise and many were expecting continuation of declining imports as the arbitrage window largely remained closed.
This is indicating that the demand continues to remain strong and thereby prices might continue TO MOVE HIGHER....