Copper ended firm after stronger-than-expected manufacturing data in the United States and China bolstered demand prospects in the world's two largest end-user markets. Despite the dollar's restraint on copper prices in recent weeks, the metal continued to be well-supported by prospects of improved global demand conditions and a dwindling supply base. The latest data from the LME showed copper stocks fell 925 tonnes to 367,575 tonnes, down to their lowest levels in one year from a 6-1/2 year peak of 555,025 tonnes in February. Copper has touched a low of Rs 368.5 a kg after opening at Rs 368.5, and last traded at Rs373.05. For today market is looking for the support at 369.2, a break below could see a test of 365.4 and where as resistance is now likely to be seen at 376.2, a move above could see prices testing 379.4.

Trading Ideas:

Copper trading range is 365.4-379.4.

Copper ended firm after stronger-than-expected manufacturing data bolstered demand

Copper is taking resistance at 376.20 and support is seen at 371.20.

Copper daily stocks at Shanghai exchange came up by 1074 tonnes.