Copper consolidated the previous session's gains as supply-side labor tensions eased and other markets that often provide direction to the metal were also little changed. Inventories of copper stored in LME-monitored warehouses rose 2,950 metric tons, leaving them at 505,350. The most recent Comex inventory data, released late Monday, were up 280 short tons at 99,462 short tons. Copper has touched a low of Rs 344.25 a kg after opening at Rs 347.9, and last traded at Rs347.35.For today market is looking for the support at 345.00, a break below could see a test of 342.780 and where as resistance is now likely to be seen at 348.80, a move above could see prices testing 350.20.

Trading Ideas:

Copper trading range is 340-355.

Copper yesterday jumped as expected from its lows but ended unchanged

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Copper daily stock at Shanghai exchange came up by 625 tonnes.

SELL COPPER FEB @ 348-349 SL 351.20 TGT 346.80-345.20-344.40-342. MCX