Copper ended flat as buyers resurfaced after prices sank to one-month lows in response to potential monetary tightening in China and newly proposed U.S. bank regulations.  Deliverable copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 3 percent to 97,308 tonnes from 100,588 tonnes from one week earlier.  World refined copper production exceeded consumption by 78,000 tonnes between January and October of 2009, versus deficit of 58,000 tonnes year ago. Copper has touched a low of Rs 340.6 a kg after opening at Rs 341.5, and last traded at Rs341.For today market is looking for the support at 340.4, a break below could see a test of 339.8 and where as resistance is now likely to be seen at 341.8, a move above could see prices testing 342.6.

Trading Ideas:

Copper trading range is 336-348.

Copper ended flat as buyers resurfaced after prices sank to one-month lows

Resistance for the copper is at 342.60 level and support is at 342.60 level.

World refined copper production exceeded consumption by 78,000 tonnes between Jan-Oct

BUY COPPER FEB @ 340 SL 338.90 TGT 340.80-341.60-342.80.MCX