MTECHTIPS MCX COPPER INTRADAY trading analysis 01-02-2016

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MTECHTIPS MCX COPPER INTRADAY trading analysis 01-02-2016

Mcx Copper has support at 308 and resistance at 314. Two consecutive closes above 314 will take to 319—324 mark. Further upside rally will see only weekly close above 324 else it could test its support level of 306 again. Two consecutive closes below 308 will see further panic till 302—296 and then to 289 mark mark. Chances are bright for upside move but traders remain cautious near to its upper side resistance level as profit booking may take place around 324 mark. Traders holding long as per our level can book part profit and revise stop loss below 308 on closing basis. Fresh buy can initiate only close above 314 with stop loss below 308 for the initial target of 319—324. 

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