Copper bounced from lows to end near steady on fund buying while the U. S. dollar eased and equities firmed, but observers say the metal's upside may be limited unless stronger demand indications emerge. Inventories of copper stored in LME warehouses fell 2,700 metric tons, leaving them at 538,875.

The most recent Comex inventory data, released late Monday afternoon, were unchanged at 102,192 short tons. Copper has touched a low of Rs 337.75 a kg after opening at Rs 342.55, and last traded at Rs342.5. For today market is looking for the support at 339, a break below could see a test of 335.4 and where as resistance is now likely to be seen at 344.9, a move above could see prices testing 347.2.344.9, a move above could see prices testing 347.2.

Trading Ideas:

Copper trading range is 335.4-347.2.

Copper bounced from lows to end near steady on fund buying

Copper is getting resistance at 344.40 and support is at 340.80 level.

China’s net imports of refined copper may fall 16 percent this year

SELL COPPER APR @ 344-345 SL 348.60 TGT 342.80-340.60-338.80.MCX