Copper is expected to open firmer on Wednesday as strong US corporate earnings revive appetite for risky assets, although investors in base metals will also take their cue from the direction of equity markets. Copper futures gained ground Tuesday as market sentiment improved for perceived riskier assets, which have declined recently on worries linked to the Goldman Sachs fraud charges. Copper yesterday traded with the negative node and settled -0.12% down at 344.4.For today's session market is looking to take support at 342.8, a break below could see a test of 341.3 and where as resistance is now likely to be seen at 347.2, a move above could see prices testing 350.1.

Trading Ideas:

Copper trading range is 341.3-350.1.

Copper is expected to trade as strong US corporate earnings revive appetite for risky assets

Copper is getting resistance at 347.20 and support is at 342.80 level.

Copper daily stock at Shanghai exchange came down by -2523 tonnes.

BUY COPPER APR @ 343.50 SL 341.80 TGT 345.80-347.50.MCX