Copper settled at a fresh record as traders judged China's copper demand will continue growing without the widely anticipated interest rate hike. Copper bulls were rejuvenated after Chinese authorities held off on raising interest rates over the weekend.  China has led the world's copper consumption amid urbanizing and industrializing its vast economy, as the red metal is widely used for electrical wiring and plumbing in construction as well as wide applications in manufacturing. Copper has touched a low of Rs 412.6 a kg after opening at Rs 412.6, and last traded at Rs420.For today market is looking for the support at 414.9, a break below could see a test of 409.9 and where as resistance is now likely to be seen at 422.7, a move above could see prices testing 425.5.

Trading Ideas:

Copper trading range is 409.9-425.5.

Copper settled at a fresh record as traders judged China's copper demand

Copper is taking resistance at 422.70 and support is seen at 417.80.

Copper daily stocks at Shanghai exchange came up by 125 tonnes.