Copper settled positive as positive sentiment spilled over from higher equities markets and a weaker U.S. dollar also benefited the industrial metal. Copper supported by bullish supply trend in London warehouse stock levels. Inventories of copper stored in LME warehouses fell 975 metric tons, leaving them at 394,500. The most recent Comex inventory data, released late Tuesday afternoon, were down 225 short tons at 94,821 short tons. Copper has touched a low of Rs 355.25 a kg after opening at Rs 358, and last traded at Rs358.75.For today market is looking for the support at 355.9, a break below could see a test of 353.1 and where as resistance is now likely to be seen at 361, a move above could see prices testing 363.2.

Trading Ideas:

Copper trading range is 353.1-363.2.

Copper ended positive getting support from weaker dollar and firm equities

Copper looks to take support at 355.90 and resistance at 361.

Copper daily stock at Shanghai exchange came up by 1950 tonnes.