Copper pared its gains on worry that the debt troubles in the euro zone will hamper economic recovery and crimp demand for the industrial metal. Inventories of copper stored in LME warehouses fell 925 metric tons, leaving them at 482,225. The most recent Comex inventory data, released late Tuesday afternoon, were unchanged at 101,242 short tons. Copper has touched a low of Rs 300.2 a kg after opening at Rs 305.2, and last traded at Rs305.9.For today market is looking for the support at 301.5, a break below could see a test of 297.1 and where as resistance is now likely to be seen at 309, a move above could see prices testing 312.2.

Trading Ideas:

Copper trading range is 297.1-312.2.

Copper pared its gains on global demand worry

Copper is getting resistance at 307.40 and support is at 304.20 level.

Copper daily stock at Shanghai exchange came down by -2974 tonnes.

SELL COPPER JUNE @ 308 SL 310.20 TGT 306.50-305.20-303.80.MCX