Copper ended sharply lower on worries of oversupply in China and an unexpected jump in U.S. jobless claims. Selling by Chinese market participants upon returning from a three-day holiday reined in this week's recovery and raised expectations of lower prices. In another indication of demand, inventories of copper stored in LME-monitored warehouses rose 1,025 metric tons Thursday, leaving them at 460,175. The most recent Comex inventory data, released late Wednesday afternoon, were unchanged at 101,925 short tons. Copper has touched a low of Rs 295.65 a kg after opening at Rs 307.35, and last traded at Rs297.3.For today market is looking for the support at 292.9, a break below could see a test of 288.4 and where as resistance is now likely to be seen at 304.6, a move above could see prices testing 311.8.

Trading Ideas:

Copper trading range is 296.4-299.3.

Copper ended sharply lower on worries of oversupply in China

Copper looks to take support at 295.80 and resistance at 299.20

Copper daily stock at Shanghai exchange came down by -3197 tonnes.

SELLCOPPER JUNE @ 300 SL 302.50 TGT 297.20-295.50.MCX