Copper fell as traders cashed out of the market to profit from the metal's recent highs amid a stronger dollar and weak Chinese import data. Chinese copper imports declined in October for the second consecutive month, pressuring metals prices lower. Copper inventories stored in LME-approved warehouses, considered an indicator of global demand, fell 925 metric tons Wednesday to 363,950 metric tons. The most recently available data for Comex copper stocks, published late Tuesday afternoon, showed a decline of 245 short tons, to 74,335 tons. Copper has touched a low of Rs 387.3 a kg after opening at Rs 394.6, and last traded at Rs389.65.For today market is looking for the support at 386.4, a break below could see a test of 383.2 and where as resistance is now likely to be seen at 393.7, a move above could see prices testing 397.8.

Trading Ideas:

Copper trading range is 383.2-397.8.

Copper fell as traders cashed out of the market to profit from recent highs

Copper is taking resistance at 392.20 and support is seen at 386.40.

Copper daily stocks at Shanghai exchange came up by 3479 tonnes.