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Copper Technical View For Traders

Copper November inched 5.25 rupees down to settle at 445.60. Copper failed to follow bulls and then settled with a decline of 5 rupees near day low. Support is now seen near 445 and then at 441 any failure below 441 would bring 433-428 on cards.

Resistance is now seen near 451.40 any sustained move above that would bring jumps towards 455 and more upside. Overall key resistance would remain at 461.

Trading range for the day is expected among the key support at 424 and resistance at 460.

Recommendation:

* Selling can be taken below 445 with stop loss above 451 for targeting 441-435 and more down side.

* Today buying copper above 452 with stop loss below 447 for targeting 455-457 and more upside might be appropriate.

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