Copper slumped to their lowest level in two months when another move by China to slow its economy triggered thoughts that future demand will not be as great as it might have been otherwise. Prior to the Chinese news, European debt issues had been driving copper lower in recent weeks due to the weakness in the euro and periodic bouts of risk aversion. Copper has touched a low of Rs 322.65 a kg after opening at Rs 330.05, and last traded at Rs325.1.For today market is looking for the support at 321.8, a break below could see a test of 318.5 and where as resistance is now likely to be seen at 329.2, a move above could see prices testing 333.3.

Trading Ideas:

Copper trading range is 318.5-333.3.

Copper slumped when another move by China to slow its economy triggered future demand

Copper is getting resistance at 327.20 and support is at 323.80 level.

Japan March refined copper output up 8% on month –METI

BUY COPPER JUNE @ 325 SL 323.80 TGT 326.50-327.50-328.60.MCX