Copper fell erasing earlier gains, on renewed concern that slowing economic growth will reduce metal demand. Earlier, the price gained after the IMF increased its forecast for world growth. The global economy will expand 4.6 percent in 2010, the most since 2007 and above an April projection of 4.2 percent, the IMF said. Copper has touched a low of Rs 311.5 a kg after opening at Rs 314.5, and last traded at Rs313.35.For today market is looking for the support at 311.2, a break below could see a test of 309 and where as resistance is now likely to be seen at 315.9, a move above could see prices testing 318.5.

Trading Ideas:

Copper trading range is 309-318.5.

Copper fell on renewed concern that slowing economic growth will reduce metal demand

Copper looks to take support at 311.20 and resistance at 315.90.

Copper daily stock at Shanghai exchange remained unchanged.

SELL COPPER AUG @ 314-315 SL 317.20 TGT 312.70-311.20-309.50.MCX