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Why this stock is a better pick to play the short-term copper rally

According to Chandan Taparia, technical analyst at Motilal Oswal Financial Services, the main pattern of the stock is constructive because it has been making greater top-higher backside together with shopping for curiosity in the total steel house.

Synopsis

Shares have rallied 72% in the final one month and 166% in the final three months to shut at Rs 98.35 on Monday. The stock is anticipated to rally one other 25% in the subsequent few weeks, mentioned technical analysts.

MUMBAI: Monday belonged to metals on D-Street. From copper to metal, steel shares have been pink scorching on a day traders appeared to have cold-shouldered nearly each different sector. Hindustan Copper surged 15%, whereas Vedanta and Hindalco gained 7% and three%, respectively.Copper crossed $9,000 per tonne for the first time in the previous 9 and half years on the London Metal Exchange. The ongoing focus provide points and powerful demand, notably

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