Copper settled slightly lower but recovered most of its losses as some participants bought back positions sold during the metal's recent slide. Copper has lost nearly 24% since early April, when participants were more optimistic about demand for the metal. LME copper stocks, which are seen as indicating demand trends, fell 900 tonnes to total 469,850 tonnes, the smallest supply since mid-December last year and down some 15 percent since a mid-February peak. Copper has touched a low of Rs 284.8 a kg after opening at Rs 288.5, and last traded at Rs287.35.For today market is looking for the support at 284.7, a break below could see a test of 282 and where as resistance is now likely to be seen at 290.1, a move above could see prices testing 292.9.

Trading Ideas:

Copper trading range is 282-292.9.

Copper settled slightly lower but recovered most of its losses on short covering

Copper looks to take support at 285.80 and resistance at 289.60

Copper daily stock at Shanghai exchange came down by -1192 tonnes.

SELL COPPER @ 290 SL 292.20 TGT 288.20-286.MCX