Sunday 16 December 2012

COMMODITY TECHNICAL REPORT 17/12/2012


COPPER

POSSIBILITY 

Copper prices may remain sideways to lower and can test 441 levels.

Sustainable trading below 441 might pull the market further down towards 437 levels.

ALTERNATE POSSIBILITY

Only a daily close above 451 levels would result into positive movement.

SHORT TERM
SUPPORT      : Rs. 441/437
RESISTANCE: Rs. Rs448/451.

TREND TYPE
Sideways (Rise Sell).


  NICKEL

POSSIBILITY 

As expected, prices tested  its resistance of 972.

Any sustainable trading above Rs972 levels will attract further higher moves towards 990 levels.   

ALTERNATE POSSIBILITY

Sustainable trade below 950 would pull the prices towards Rs 935 Levels.

SHORT TERM
SUPPORT      : Rs. 950/935
RESISTANCE: Rs.   975/990

TREND TYPE
Sideways (Dip Buy)  








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