Copper ended down amid a mixed complex on the London Metal Exchange, but with the red metal trading in a relatively narrow range, market players are divided over what direction it will take next. Stockpiles monitored by exchanges in London, Shanghai and New York have climbed to the highest level since July 26. China, the world’s largest copper user, has boosted interest rates three times since mid-October, spurring speculation that growth will slow. India, South Korea, Brazil and Thailand also lifted borrowing costs. Copper has touched a low of Rs 444.7 a kg after opening at Rs 445, and last traded at Rs445.45.For today market is looking for the support at 444.9, a break below could see a test of 444.4 and where as resistance is now likely to be seen at 445.8, a move above could see prices testing 446.2.

Trading Ideas:

Copper trading range is 444.4-446.2.

Copper ended down amid a mixed complex on the London Metal Exchange

Copper looks to take support at 442.80 and resistance at 448.20 level.

Copper weekly stocks at Shanghai exchange came up by 16865 tonnes.

SELL COPPER FEB @ 448-449 SL 450.2 TGT 446.20-443.50-441.80.MCX

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 725