AHMEDABAD (Commodity Online): Having witnessed a straight bull-rally from last few days, the base metals fell lower on MCX on Thursday trading session tracking negative news of China fund Probe. In the last trade, copper future ended on negative note at 349.40 per kilogram On September 13, 2010 three month delivery contract for Copper gained by 1.75 percent to 356.10 with total volume of 40996 lots at MCX counter. Copper price recovered once again with optimistic outlook of china output data. “Copper climbed for the first day in beginning of this week after China’s industrial output grew at a faster rate than expected; boosting optimism that demand would develop. On this positive note, Investors show their interest in buying this red gold again,” said Amrita Mashar, analyst with Commodity Online. Copper future has spring back from 349 strong support levels. After serial fall in last two trading session today price recovered with positive global cue and improved industry demand. “Copper futures remain higher on fresh buying momentum from speculators and investors this morning. Strategy for the day should be, take long position near 352 by keeping stop loss of 349. Intraday traders will get chance to book profit nearby 355 higher it may test 359,” she said. To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com

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