Copper gained with equities on firm U. S. economic data as investors continued to sell the U. S. dollar and buy the metal. Despite rising inventory levels, dollar weakness and speculative investment may continue supporting copper. Inventories of copper stored in LME warehouses rose 1,950 metric tons, leaving them at 431,600.

The most recent Comex inventory data, released late Tuesday, were up 2,788 short tons at 80,549 short tons. Copper has touched a low of Rs 318.3 a kg after opening at Rs 320.4, and last traded at Rs322.8. For today market is looking for the support at 319.6, a break below could see a test of 316.4 and where as resistance is now likely to be seen at 324.7, a move above could see prices testing 326.6.

Trading Ideas:

COPPER TRADING RANGE IS 314-332.

COPPER GAINED WITH EQUITIES ON FIRM U. S. ECONOMIC DATA

BUY COPPER NOV @ 322-323 SL 320.80 TGT 323.90-324.60-325.50.MCX

SOME PROFIT BOOKING CAN BE SEEN NEAR TO 326 LEVEL.

COPPER DAILY STOCK AT SHANGHAI EXCHANGE CAME UP BY 225