4
December 24, 2013 4:30 pm IST Visit us at www.sharekhan.com Punter’s Call Copper has formed a multi-month channelised correction, which in terms of the price pattern has taken the form of a bullish flag pattern. In terms of the Fibonacci retracement, the correction found support at the 61.8% retracement mark. Recently the price has broken out from Copper takes a bullish stance For Private Circulation only Sharekhan Ltd, Regd Add: 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra. Tel: 022 - 61150000. Sharekhan Ltd.: SEBI Regn. Nos. BSE-Cash-INB011073351 ; F&O-INF011073351 ; NSE – INB/ INF231073330; CD - INE231073330 ; MCX Stock Exchange: INB/INF-261073333 ; CD - INE261073330 ; United Stock Exchange: CD - INE271073350 ; DP- NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DP-CDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080 ; (MCX/TCM/CORP/0425) ; NCDEX -00132 ; (NCDEX/TCM/CORP/0142) ; NSEL-12790 ; For any complaints email at [email protected] ; Disclaimer: Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges and Do’s & Don’ts by MCX & NCDEX and the T & C on www.sharekhan.com before investing. Copper ri l May J un e Ju l y Au g u s t S e p te m be r O cto b e r Nove m b er D e c e m b er 2 0 1 4 2.9 0 2.9 5 3.0 0 3.0 5 3.1 0 3.1 5 3.2 0 3.2 5 3.3 0 3.3 5 3.4 0 3.4 5 3.5 0 3.5 5 3.6 0 3.6 5 0.0% 23 .6 % 38 .2 % 50 .0 % 61 .8 % 100 .0% 3.21 3.38 8 3.55 HG C O PP ER CO NT IN U OU S 25 00 0 LB S [C O ME X] (3 .30 000 , 3.3 17 50 , 3.2 91 0 0, 3.30 80 0, + 0.0 12 5 0) -5 0 5 KST (2 . 06 857 ) the bullish pattern. The short-term momentum indicators have turned bullish. Thus, the red metal looks set for the next leg on the upside, equality target for which is $3.55. The intermediate target will be the high of $3.388. The swing’s low of $3.21 will act as a strong support.

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December 24, 2013 4:30 pm ISTVisit us at www.sharekhan.com

Punter’s Call

Copper has formed a multi-month channelised correction,

which in terms of the price pattern has taken the form of 

a bullish flag pattern. In terms of the Fibonacci

retracement, the correction found support at the 61.8%

retracement mark. Recently the price has broken out from

Copper takes a bullish stance

For Private Circulation only 

Sharekhan Ltd, Regd Add: 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East),

Mumbai – 400042, Maharashtra. Tel: 022 - 61150000. Sharekhan Ltd.: SEBI Regn. Nos. BSE-Cash-INB011073351 ; F&O-INF011073351 ; NSE – INB/INF231073330; CD - INE231073330 ; MCX Stock Exchange: INB/INF-261073333 ; CD - INE261073330 ; United Stock Exchange: CD - INE271073350 ; DP-

NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DP-CDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through SharekhanCommodities Pvt. Ltd.: MCX-10080 ; (MCX/TCM/CORP/0425) ; NCDEX -00132 ; (NCDEX/TCM/CORP/0142) ; NSEL-12790 ; For any complaints email at

[email protected] ; Disclaimer: Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges and Do’s & Don’ts by MCX &

NCDEX and the T & C on www.sharekhan.com before investing.

Copper

ri l M ay J u n e Ju ly Au g u s t S e p te m b e r O c to b e r N ove m b e r D e c e m b e r 2 0 1 4

2.9 0

2.9 5

3.0 0

3.0 5

3.1 0

3.1 5

3.2 0

3.2 5

3.3 0

3.3 5

3.4 0

3.4 5

3.5 0

3.5 5

3.6 0

3.6 5

0 .0%

23 .6 %

38 .2 %

50 .0 %

61 .8 %

100 .0%

3 . 2 1

3 . 3 8 8

3 . 5 5

HG C O PP ER CO NT IN U OU S 25 00 0 LB S [C O ME X] (3 .30 000 , 3.3 17 50 , 3.2 91 0 0, 3.30 80 0, + 0.0 12 5 0)

-5

0

5KST (2 .06 857 )

the bullish pattern. The short-term momentum indicators

have turned bullish. Thus, the red metal looks set for the

next leg on the upside, equality target for which is $3.55.

The intermediate target will be the high of $3.388. The

swing’s low of $3.21 will act as a strong support.

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Riveting Metals December 24, 2013 Home22

Medium Term Trend

Target Trend Reversal Support / Resistance

Gold Cash US $ 1295.00 1180.00 1180/1295

Silver Cash US $ 21.30 18.19 18.19/21.30

Crude US $ 104.50 96.00 96/104.50

Copper $ (comex) 3.550 3.210 3.21/3.55

Zinc MCX 131.00 120.00 120/131

Nickel MCX 920 860 860/920

Icon guide

  Up   Upswing maturesDownswing matures

  Down   Sideways       

Short Term Trend

Target Trend Reversal Support/Resistance

Gold MCX 27000 29000 27000/29000

Silver MCX 41000 45850 41000/45850

Crude MCX 6300 6050 6050/6300

Copper MCX 471.00 452.00 452/471

Zinc MCX 131.00 125.00 125/131

Nickel MCX 900.00 870.00 870/900

Looking TrendyLooking Trendy

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