Copper pushed higher driven by encouraging employment data in the United States that backed views of a healthier 2011 demand outlook. Copper, widely used in manufacturing and construction, should enjoy strong demand due to improving economic conditions in the developed world and a strong phase of industrialization still underway in emerging economies like India and China.

Stocks of copper at LME warehouses last fell 325 tonnes to 394,150 tonnes, a small decline but a bit of respite after a recent string of inventory builds dating back to early December. Copper has touched a low of Rs 462.8 a kg after opening at Rs 463.6, and last traded at Rs464.5. For today market is looking for the support at 463.3, a break below could see a test of 462.1 and where as resistance is now likely to be seen at 465.2, a move above could see prices testing 466.

Trading Ideas: Copper trading range is 462.1-466. Copper pushed higher driven by encouraging employment data in United States Copper looks to take support at 462.20 and resistance at 466.80 level. Copper should enjoy strong demand due to improving economic conditions in the developed world