Commodity reported that copper at Multi Commodity Exchange rose for a third uninterrupted session buoyed by constructive sentiment after Greece's parliament approved 5 year austerity plan.
Mcx Copper August delivery contract rose by 0.57% to INR 422.75 per Kilogram. In ongoing week, Copper future outperform compared to other Industry metals. Industry metals track the positive momentum of Copper future and stays higher from last 3 days.
Copper traded with the positive node and settled 2.1% up helped by a softer dollar and as market sentiment improved on confidence that Greece's government will pass an austerity plan to save the country from bankruptcy.
Mr Amrita Mashar analyst stated that copper looks strong bullish for coming weeks due to improved industry demand and fresh buying for metals. One can buy Copper near 410-12 for target near 430 with stop loss of 402.
