RTRS: India copper to open tad higher, gold strong
India copper futures are expected to open slightly higher on Thursday tracking overseas markets, but a strong rupee may keep the upside limited, analysts said.
The benchmark April contract MCCJ9 on the Multi Commodity Exchange (MCX) ended 0.02 percent higher at 195.25 rupees per kg.
It may open at around 196 rupees per kg, said Pranav Mer, an analyst with India Infoline in Mumbai.
Comex copper for May delivery HGK9 was 2.45 percent higher at $1.7575 a lb.
Mer said, "buying can initiated at 194 with a target of 200."
Support is pegged at 192, while resistance is placed at 198, said Abhishek Chauhan, a technical analyst with Angel Commodities.
March zinc MZIH9 ended at 60.55 rupees per kg, while lead for March MLDH9 closed at 66.50 rupees per kg.
GOLD:
Futures are expected to open strong tracking the rally overseas, but the upside would be restricted by a strong rupee, analysts said.
