Copper rose after European policy makers unveiled a loan package of almost $1 trillion to end a sovereign-debt crisis that threatened to derail the region’s economic rebound. Imports of copper and products made from the metal by China, the world’s biggest consumer, rose 9 percent to 436,345 metric tons in April from a year earlier. Copper has touched a low of Rs 318 a kg after opening at Rs 318, and last traded at Rs321.4.For today market is looking for the support at 318.2, a break below could see a test of 314.9 and where as resistance is now likely to be seen at 324.5, a move above could see prices testing 327.5.

Trading Ideas:

Copper trading range is 314.9-327.5.

Copper jumps on European plan to contain sovereign-debt crisis

Copper is getting resistance at 322.80 and support is at 319.80 level.

Copper daily stock at Shanghai exchange came down by -772 tonnes

BUY COPPER JUNE @ 320 SL 318.70 TGT 321.60-323.20-324.50.MCX