Copper rallied on Monday as investors and consumers, seeing bargain prices and believing in the stronger China demand story, piled in. Copper yesterday traded with the positive node and settled 0.32% up at 300.9.In yesterday's trading session copper has touched the low of 296.6 after opening at 300.5, and finally settled at 300.9. Earlier on Monday the metal used in power and construction touched $6,475. A frenzied sell-off across equities and commodities because of sovereign default fears and a stronger dollar last week pushed copper to $6,225, the lowest since Oct. 19, and 20 percent below this year's high of $7,796 on Jan. 7. For today's session market is looking to take support at 297.6, a break below could see a test of 294.2 and where as resistance is now likely to be seen at 303.3, a move above could see prices testing 305.7.

Trading Ideas:

Copper trading range is 294.2-305.7.

Copper rallied as investors and consumers, seeing bargain prices and believing in the stronger China demand

Sell-off across equities due to sovereign default fears last week pushed copper to $6,225.

Copper getting resistance at 304.60 and important support level will be at 296 level.

SELL COPPER FEB @ 303-304 SL 306.80 TGT 301.80-300.20-298.60.MCX