Copper managed a slight gain with no major U.S economic reports on the calendar, the metal remained underpinned by the rise in new-home sales reported on Friday. LME copper stocks have fallen by nearly 49,000 tonnes since the middle of February. Most of that left LME warehouses before the end of March. Copper has touched a low of Rs 344.45 a kg after opening at Rs 345.2, and last traded at Rs345.For today market is looking for the support at 343.8, a break below could see a test of 342.6 and where as resistance is now likely to be seen at 346.9, a move above could see prices testing 348.7.

Trading Ideas:

Copper trading range is 342.6-348.7.

Copper managed a slight gain with no major U.S economic reports

Copper is getting resistance at 346.40 and support is at 343.60 level.

Copper daily stock at Shanghai exchange came up by 3716 tonnes.

SELL COPPER APR BELOW 344.50 SL 346.40 TGT 343.20-341.80.MCX

YESTERDAY LME STOCK FOR COPPER CAME Down  BY -1025