As the stock market dipped by 1.31 percent on National Stock exchange, along with this metals price dropped more than 1 percent on Tuesday morning at MCX.
Copper for two month delivery for April on MCX dropped 1.3 % to 414.40 rupees per Kilogram.
Japanese nuclear situation is driving people to the edge of the seats and forcing equity markets to go crazy. Nikkie, Japan’s tumbled 13% in the morning.
Aluminum in India dropped 0.96 percent to 113.35 rupees per kilogram while zinc tumbled 1.2 percent to touch 113.40 rupees per Kilogram.
Overall trend looks downside for Copper future in coming days. Copper future expected to drop till 380 in coming days. Every high can be considered as selling opportunity for Copper futures. Strong support looks at 412. In case price will drop below this level than it may rally up to 407 rupees ahead this week.
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