Copper settled higher on support from a weaker U.S. dollar. The metal also got some spillover support from strong gains in gold and silver. Copper tends to rise when the dollar falls because as the dollar-denominated metal becomes less expensive for buyers using other currencies. Copper has touched a low of Rs 316.85 a kg after opening at Rs 317.6, and last traded at Rs317.5.For today market is looking for the support at 317, a break below could see a test of 316.4 and where as resistance is now likely to be seen at 317.9, a move above could see prices testing 318.3.

Trading Ideas:

Copper trading range is 316.4-318.3.

Copper settled higher on support from a weaker U.S. dollar

Copper is getting resistance at 318.60 and support is at 316.20 level.

Copper weekly stock at Shanghai exchange came down by -8301 tonnes.

BUY COPPER JUNE ABV 318 SL 316 TGT 319.80-321-322.50.MCX