The price of Copper has made a double bottom formation on its intraday charts and it rallied smartly from its strong support zone of Rs 401.50--Rs 403 levels on the back of healthy volumes during yesterday’s session.
The momentum indicators have also come out of the oversold territory.All of the above technical evidence is suggesting a trend reversal in the near term.
Thus traders can buy on a break above Rs 406.70 levels with a stop loss placed below Rs 403.90 levels for targets of Rs 409.75 / Rs 411 levels.
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