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Copper intraday view

Copper April contract on inched 4.65 rupees up to settle at 418.25. Today support would be 414 failures would bring 407 and 403 on cards. Resistance is now seen near 423 above that 427-430 likely.

Copper trading range for the day is expected among the key support at 414 and resistance at 424.

Recommendation:

·         Today again buying copper around 412-411 with stop loss below 409 for targeting 417-420 and more upside might be appropriate.

·         Alternative scenario buying above 414 with stop loss below 412 for targeting 417-420 and more upside might be appropriate.

·         Selling below 405 with stop loss above 408 for targeting 402-400 and more down side might be appropriate. 

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