One can initiate sell positions in copper at the current market price, said Sumeet Bagadia, Choice Broking.
Talking about metals space, he said, “What we are seeing is a selloff in most of the commodities and there is possibility that we might see selloff in most of the metal stocks like copper, zinc, lead, nickel and aluminium.”
“Charts are looking weak. Looking at the charts,copper is the best commodity to trade in. If there is a bounce back of around Rs 1-2 from present levels then that should be used as a selling opportunity. On higher side one can maintain stop loss of around Rs 467 in Copper June contract for the downside target of Rs 457-455 in next couple of days,” said Bagadia.