Copper ended lower as prices paused on profit booking, but upside momentum should reassert itself in the days ahead due to a tightening market balance. LME copper warehouse stocks fell by 2,100 tonnes to 378,125 -- their lowest level since last November, and down nearly one third from a six-year high hit in February. COMEX copper warehouse stocks dropped 1,111 short tons to 86,134 short tons as of Friday. Copper has touched a low of Rs 357.65 a kg after opening at Rs 362.6, and last traded at Rs358.4.For today market is looking for the support at 356.5, a break below could see a test of 354.6 and where as resistance is now likely to be seen at 361.5, a move above could see prices testing 364.5.

Trading Ideas:

Copper trading range is 354.6-364.5.

Copper ended lower as prices paused on profit booking

Copper is taking resistance at 361.5 and support is seen at 356.5.

Copper daily stocks at Shanghai exchange came down by -225 tonnes.