Copper moved higher as stabilization in equities encouraged some traders to use a recent pullback in the metal as an opportunity to buy. LME copper warehouse stocks fell 1,255 metric tons to 485,150, their lowest level since late December. Copper has touched a low of Rs 317.25 a kg after opening at Rs 318, and last traded at Rs322.55.For today market is looking for the support at 318.5, a break below could see a test of 314.4 and where as resistance is now likely to be seen at 325.4, a move above could see prices testing 328.3.

Trading Ideas:

Copper trading range is 314.4-328.3.

Copper gained as traders took opportunity of pullback in prices

Copper is getting resistance at 323.80 and support is at 321.20 level.

Copper daily stock at Shanghai exchange came down by -1723 tonnes.

SELL COPPER @ 323.50 SL 324.80 TGT 322.20-320.80-319.60.MCX (STBT)