Copper prices dropped on concern that growth will slow in Europe and China, curbing demand for raw materials. Prices jumped yesterday after European policy makers and the International Monetary Fund unveiled a 750 billion-euro ($955 billion) loan package to stem budget gaps in Greece, Portugal and Spain.  Copper has touched a low of Rs 314.1 a kg after opening at Rs 320.4, and last traded at Rs318.45.For today market is looking for the support at 314.9, a break below could see a test of 311.4 and where as resistance is now likely to be seen at 321.2, a move above could see prices testing 324.

Trading Ideas:

Copper trading range is 312.3-324.9.

Copper drops on concern about pressure on China to curb growth

Copper is getting resistance at 320.20 and support is at 316.80 level.

Copper daily stock at Shanghai exchange came down by -2071 tonnes.

MARKET IS LIKELY TO TRADE WEAK BELOW 320 LEVEL FOR SUPPORT 314.