Copper closed higher buoyed by a slightly softer U.S. dollar, declining warehouse stocks seen as a sign of improving demand for the metal, and optimism about continuing demand from China.  LME copper warehouse stocks are down 26,750 tonnes since March 1, to a 2-month low at 525,575 tonnes. The most recent Comex-warehouse inventory data, as of late Tuesday, showed a fall of 263 short tons to 101,875.Copper has touched a low of Rs 338.4 a kg after opening at Rs 338.4, and last traded at Rs342.8.For today market is looking for the support at 339.8, a break below could see a test of 336.8 and where as resistance is now likely to be seen at 344.4, a move above could see prices testing 346.1.344.4, a move above could see prices testing 346.1.

Trading Ideas:

Copper trading range is 336.8-346.1.

Copper closed higher buoyed by a slightly softer U.S. dollar and declining warehouse stocks

Copper is getting resistance at 344.20 and support is at 341.60 level.

Copper daily stock at Shanghai exchange yesterday came down by -1677 tonnes.

BUY COPPER @ 342.10 SL 339.80 TGT 343.50-345.20-347.MCX