Copper rallied with the help of a retreating dollar, but further gains looked fragile as European debt fears lingered. China's imports of refined copper in April fell 2.7% on the year to 309,772 tons, while concentrate copper imports rose 17% on the year to 606,091 tons. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly decline of 5,306 metric tons to 167,789. Copper has touched a low of Rs 320.5 a kg after opening at Rs 320.6, and last traded at Rs322.15. For today market is looking for the support at 321, a break below could see a test of 319.8 and where as resistance is now likely to be seen at 322.9, a move above could see prices testing
323.6.

Trading Ideas:

Copper trading range is 319.8-323.6.

Copper rallied with the help of a retreating dollar but further gains looked fragile

Copper is getting resistance at 323.80 and support is at 320.60 level.

China Apr refined copper imports 309,772 tons, down 2.7% on year

COPPER IMMEDIATE RESIST IS AT 324.20 ABV THIS LOOK TILL 329 ELSE 318. MCX