Copper ended positive on reduced concern that Europe’s debt crisis and a slowdown in China, the world’s biggest consumer, would hurt demand. Copper inventories continue to decline, which is supportive since it suggests good demand. LME copper warehouse stocks fell 1,400 metric tons Friday to 465,000. Weekly data from the Shanghai Futures Exchange fell for the sixth straight week, declining 13,392 metric tons to 139,332. Copper has touched a low of Rs 302.1 a kg after opening at Rs 302.1, and last traded at Rs303.7.For today market is looking for the support at 302.6, a break below could see a test of 301.4 and where as resistance is now likely to be seen at 304.4, a move above could see prices testing 305.1.

Trading Ideas:

Copper trading range is 301.4-305.1.

Copper ended positive on reduced concern that Europe’s debt crisis would hurt demand.

Copper looks to take support at 301.60 and resistance at 305.80

Copper weekly stock at Shanghai exchange came down by -13392 tonnes.

BUY COPPER JUNE @ 302-303 SL 300 TGT 304.80-306-307.50.MCX