Copper ended up over a percent buoyed by expectations of stronger Chinese demand and fresh investment flows into the broader metals complex. Anticipation of Chinese trade data and other economic indicators on Thursday supports prices. China industrial output seen up 20 percent, fastest pace since Feb. 2006, in the year to December. Inventories of copper stored in LME warehouses rose 3,300 metric tons Tuesday, leaving them at 526,750. The most recent Comex inventory data, released late Friday afternoon, were up 300 short tons at 100,217 short tons.

Copper has touched a low of Rs 342.85 a kg after opening at Rs 345, and last traded at Rs347.75. For today market is looking for the support at 344.20, a break below could see a test of 340.70 and where as resistance is now likely to be seen at 349.80, a move above could see prices testing 351.80.

Trading Ideas:

Copper trading range is 341-354.

Copper ended up over a percent buoyed by expectations of stronger Chinese demand

Resistance for the copper is at 349.20 level and support is at 346.30 level.

China industrial output seen up 20 percent fastest pace since Feb. 2006

SELL COPPER FEB @ 347 SL 349.20 TGT 346.10-345.40-344.20-343.40.MCX