Copper ended steady Saturday after ended lower Friday feeling the heavy hand of the strong dollar and chart-based pressure, while demand concern in China and India's interest rate hike also gave pressure. Inventories of copper stored in LME warehouses fell 1,200 metric tons Friday, leaving them at 522,975.  Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly rise of 13,632 metric tons to 169,101. Copper has touched a low of Rs 338.6 a kg after opening at Rs 339.5, and last traded at Rs339.7.For today market is looking for the support at 338.9, a break below could see a test of 338 and where as resistance is now likely to be seen at 340.3, a move above could see prices testing 340.8.340.3, a move above could see prices testing 340.8.

Trading Ideas:

Copper trading range is 338-340.8.

Copper ended steady Saturday as chart-based pressure can be seen

Copper is getting resistance at 341.20 and support is at 338.30 level.

Copper weekly stock at Shanghai exchange came up by 13632 tonnes.

SELL COPPER APR @ 339-340 SL 342.20 TGT 337.80-335.50-334.20.MCX