Copper ended firm tracking firmness in LME prices, arbitrage buying in Shanghai and on the view that last week's drop had hit support. Copper demand in Asia and Europe seems to be improving, though the broad global growth outlook remains poor. There does seem to be a demand for copper in Europe, and in Asia generally there's a lot more inquiries going around. Copper has touched a low of Rs 304.6 a kg after opening at Rs 304.6, and last traded at Rs306.1.For today market is looking for the support at 304.4, a break below could see a test of 302.6 and where as resistance is now likely to be seen at 308.1, a move above could see prices testing 310.

Trading Ideas:

Copper trading range is 302.6-310.

Copper ended firm tracking firmness in LME prices

Copper looks to take support at 304.40 and resistance at 308.20.

Copper daily stock at Shanghai exchange came down by -500 tonnes.

BUY COPPER AUG @ 306-306.50 SL 304.80 TGT 307.80-309.MCX