Copper recovered nearly all of their earlier losses after buying in the form of bargain hunting emerged when the metal hit its lowest levels in nearly 2 1/2 months. Additionally, speculators who previously sold are now buying in order to exit positions. Copper has touched a low of Rs 301.3 a kg after opening at Rs 316.4, and last traded at Rs315.65.For today market is looking for the support at 305.3, a break below could see a test of 294.9 and where as resistance is now likely to be seen at 322.1, a move above could see prices testing 328.6.

COPPER

Trading Ideas:

Copper trading range is 294.9-328.6.

Copper recovered nearly all of their earlier losses as bargain hunting emerged

Copper is getting resistance at 317.20 and support is at 313.80 level.

Copper daily stock at Shanghai exchange came down by -1402 tonnes.

SELL COPPER @ 317-317.50 SL 318.80 TGT 315.60-314.20.MCX