Copper gained markedly as stronger-than-expected U. S. economic data reinvigorated hopes about a continued recovery in demand for the industrial metal. In another indicator of demand, inventories of copper stored in LME warehouses fell 1,725 metric tons, leaving them at 454,700. The most recent Comex inventory data, released late Wednesday afternoon, were unchanged at 101,925 short tons. Copper has touched a low of Rs 302.8 a kg after opening at Rs 302.8, and last traded at Rs307.55. For today market is looking for the support at 304.2, a break below could see a test of 300.9 and where as resistance is now likely to be seen at 309.4, a move above could see prices testing 311.3.

Trading Ideas:

Copper trading range is 300.9-311.3.

Copper yesterday ended higher after stronger-than-expected U. S. economic data released

Copper looks to take support at 305.80 and resistance at 309.20.

Copper daily stock at Shanghai exchange came down by -850 tonnes.

SELL COPPER JUNE BELOW 306.50 SL 308.20 TGT 305.50-304.40-303.50. MCX