Copper settled up buoyed by upbeat equities and economic optimism reflected in positive jobs data, but lingering concerns about debt sustainability in the euro zone capped momentum. LME copper warehouse stocks fell 1,625 tonnes to 518,825 tonnes, down 36,250 tonnes from a peak of 555,075 tonnes in February. COMEX copper stockpiles were down 324 short tons to 101,688 short tons as of Wednesday. Copper has touched a low of Rs 335.2 a kg after opening at Rs 336.7, and last traded at Rs338.1.For today market is looking for the support at 335.5, a break below could see a test of 332.8 and where as resistance is now likely to be seen at 340.5, a move above could see prices testing 342.8.

Trading Ideas:

Copper trading range is 332.8-342.8.

Copper ended higher as jobs data stokes optimism

Copper is getting resistance at 336.80 and support is at 339.20 level.

Copper daily stock at Shanghai exchange came up by 749 tonnes.

BUY COPPER APR @ 336-337 SL 334.80 TGT 338.20-339.60-340.50.