Copper finished with moderate losses as enthusiasm over recent strong U. S. economic data fell prey to profit taking once the dollar advanced on the euro. Copper stored in warehouses affiliated with the LME rose 125 metric tons to 512,575. The most recent Comex data, as of Monday afternoon, showed a rise of 25 short tons to 101,128.

Copper has touched a low of Rs 353.25 a kg after opening at Rs 354.5, and last traded at Rs354.5. For today market is looking for the support at 353, a break below could see a test of 351.4 and where as resistance is now likely to be seen at 356.4, a move above could see prices testing 358.2.

Trading Ideas:

Copper trading range is 351.4-358.2.

Copper finished with moderate losses on profit booking

Copper is getting resistance at 355.90 and support is at 353.20 level.

Copper daily stock at Shanghai exchange came up by 5034 tonnes

BUY COPPER APR @ 353-354 SL 351.80 TGT 355.50-357-358.80.MCX