Dollar strength pushed copper to a lower settlement. Technical selling also weighed on the metal. This type of chart-based selling brought the metal even lower once it broke through the 330 level. Inventories of copper stored in LME warehouses rose 750 metric tons, leaving them at 453,300. The most recent Comex inventory data, released late Monday, were up 533 short tons at 89,794 short tons.

Copper has touched a low of Rs 326.25 a kg after opening at Rs 329.15, and last traded at Rs327.25. For today market is looking for the support at 324.60, a break below could see a test of
322.00 and where as resistance is now likely to be seen at 331.40, a move above could see prices testing 335.50.

Trading Ideas:

COPPER TRADING RANGE IS 315-340.

COPPER ENDED LOWER YESTERDAY ON STRONG DOLLAR AND TECHNICAL SELLING

OVERALL MKT TREND IS WEAK SOME BOUNCE TILL 330 LVL CAN BE SEEN IN MORNING SESSION

SELL COPPER @ 328-330 SL 334.60 TGT 324.60-321.80-316.50-313.20. MCX (WEEKLY CALL)

COPPER DAILY STOCK AT SHANGHAI EXCHANGE CAME DOWN BY -277 TONNES