Copper settled flat, capped by a stronger dollar and fears that China may move to tighten monetary policy to prevent its economy overheating after more robust growth data. LME copper stocks, seen as a gauge of demand trends, rose 775 tonnes to total 510,425 tonnes, having fallen continuously since the beginning of March. Total stocks remain 8 percent below a February high of 555,025 tonnes. Copper has touched a low of Rs 349.7 a kg after opening at Rs 352.4, and last traded at Rs352.3.For today market is looking for the support at 350.2, a break below could see a test of 348 and where as resistance is now likely to be seen at 354, a move above could see prices testing 355.7.

Trading Ideas:

Copper trading range is 348-355.7.

Copper settled flat on pressure from a stronger U.S. dollar.

Copper is getting resistance at 354 and support is at 350.20 level.

Copper daily stock at Shanghai exchange came up by 6923 tonnes

SELL COPPER APR @ 352.50 SL 354.60 TGT 350.80-349.40-348.20.MCX