Copper collapsed in its biggest one-day loss since mid-November as a stronger dollar added to early pressure from fears of monetary tightening in China, the world's biggest consumer of the metal.

The bearish onslaught spread through the broader industrial metals complex, dragging lead down 3.7%, zinc 2.5% and aluminum to its lowest level since Dec. 21. A sharp jump in China's annual growth rate and a smaller-than-expected slowdown in December inflation pressures fed expectations of further policy tightening measures which could hurt the country's demand for base metals. Copper yesterday traded with the negative node and settled -1.83% down at 433.4. In yesterday's trading session copper has touched the low of 430.65 after opening at 441.7, and finally settled at 433.4. For today's session market is looking to take support at 428.6, a break below could see a test of 423.8 and where as resistance is now likely to be seen at 440.3, a move above could see prices testing 447.1. Bookmark.

Trading Ideas:

Copper trading range is 423.8-447.1.

Copper collapsed as a stronger dollar added to early pressure from fears of monetary tightening in China.

Copper demand will outstrip supply for the next two years as the economy recovers.

Copper daily stocks at Shanghai exchange came down by 505 tonnes.

SELL COPPER FEB ON JUMP @ 436 SL 438.50 TGT 434.50-432.70-430.80.MCX