Copper ended in positive territory recovering from an earlier slide to one-week lows with chart-based buying and firmer outside market support outweighing the bearish impact of a rising dollar. LME copper warehouse stocks added another 1,775 tonnes to an eight-month peak at 476,350 tonnes.

Deliverable copper inventories in warehouses monitored by the Shanghai Futures Exchange jumped 9 percent to 104,377 tonnes from 95,676 tonnes a week earlier. Copper has touched a low of Rs 324.1 a kg after opening at Rs 324.7, and last traded at Rs324.85. For today market is looking for the support at 324.20, a break below could see a test of 323.60 and where as resistance is now likely to be seen at 325.30, a move above could see prices testing 325.80.

Trading Ideas:

COPPER TRADING RANGE IS 316-332.

COPPER ENDED IN POSITIVE TERRITORY WITH CHART-BASED BUYING

NOW RESISTANCE FOR COPPER IS AT 326.40 AND SUPPORT IS AT 323.20.

COPPER AS TRADING ABOVE 6850$ LOOK FIRM ON LME FOR TGT 7050$

BUY COPPER FEB ABV 325.50 SL 324.20 TGT 326.20-327.50-328.80. MCX