Copper gained amid growing positive sentiment on demand despite recent worries about the euro-zone debt crisis. Investors took heart after China denied a news report that it was looking to reduce its exposure to European bonds, sending copper higher. In another indication of demand, inventories of copper stored in LME-monitored warehouses fell 1,275 metric tons Thursday, leaving them at 477,775. Copper has touched a low of Rs 322.1 a kg after opening at Rs 322.4, and last traded at Rs325.6.For today market is looking for the support at 322.8, a break below could see a test of 320.1 and where as resistance is now likely to be seen at 327.6, a move above could see prices testing 329.7.

Trading Ideas:

Copper trading range is 320.1-329.7.

Copper gained yesterday on China’s ‘Ray of Hopes’

Copper is getting resistance at 327.20 and support is at 323.80 level.

Copper daily stock at Shanghai exchange came down by -1799 tonnes.

SELL COPPER JUNE @ 325 SL 327.80 TGT 323.80-322-320.20.MCX