Copper closed down $50 at $6,540/mt, after moving between $6,494.50 and $6,673.50. In after-hours trade, it was trading back up above $6,600. Chinese demand is still very robust, policy makers are in no rush to reduce liquidity, and many base metals are still facing structural supply shortages, Copper yesterday traded with the negative node and settled -0.05% down at 314.9. In yesterday's trading session copper has touched the low of 314.6 after opening at 315.25, and finally settled at 314.9.

For today's session market is looking to take support at 314.4, a break below could see a test of 313.8 and where as resistance is now likely to be seen at 315.7, a move above could see prices testing 316.4.

Trading Ideas:

Copper trading range is 313.8-316.4.

Copper dipped as dollar strength and mixed economic data, with further monetary tightening moves in China.

Chinese demand is still very robust; policy makers are in no rush to reduce liquidity.

Copper getting resistance at 316.40 and important support level will be at 309.80 level.

SELL COPPER FEB @ 316-317 SL 319.80 TGT 314.50-312.60-311.20. MCX

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 3475