Copper finished a tad lower as participants booked profits from recent gains, investor tolerance for riskier assets waned and the U.S. dollar strengthened. Inventories of copper stored in LME warehouses fell 1,575 metric tons, leaving them at 541,575. Of that, 29,625 tons, or 5.47%, have been cancelled.  The most recent Comex inventory data, released late Friday afternoon, were unchanged at 102,192 short tons. Copper has touched a low of Rs 340.55 a kg after opening at Rs 345.3, and last traded at Rs342.7.For today market is looking for the support at 339.7, a break below could see a test of 336.8 and where as resistance is now likely to be seen at 346.5, a move above could see prices testing 350.3.346.5, a move above could see prices testing 350.3.

Trading Ideas:

Copper trading range is 336.8-350.3.

Copper finished lower as participants booked profits from recent gains

Copper is getting resistance at 344.40 and support is at 340 level below this could test 332 level.

Copper daily stock at Shanghai exchange came up by 3871 tonnes.

SELL COPPER APR @ 344-345 SL 348.60 TGT 342.80-340.60-338.80.MCX