Copper gained markedly as metal is attractively priced despite worries about global growth. The gains came despite losses in the euro on continued euro-zone debt worries after Spain over the weekend rescued a failing savings bank. Inventories of copper stored in LME-monitored warehouses fell 250 metric tons, leaving them at 479,575. The most recent Comex inventory data, released late Friday afternoon, were unchanged at 101,242 short tons. Copper has touched a low of Rs 319.2 a kg after opening at Rs 321.7, and last traded at Rs324.3.For today market is looking for the support at 320.6, a break below could see a test of 316.8 and where as resistance is now likely to be seen at 326.7, a move above could see prices testing 329.

Trading Ideas:

Copper trading range is 316.8-329.

Copper continues rally despite Europe fears

Copper is getting resistance at 325.80 and support is at 322.60 level.

Copper daily stock at Shanghai exchange came down by -1796 tonnes.

SELL COPPER JUNE BELOW 323 SL 324.80 TGT 321.80-320.30-319.50.MCX