Copper prices turned sharply positive on better-than-expected Chicago business barometer and consumer confidence data as traders set aside European debt concerns to focus on fundamental market drivers. Earlier in the session, copper prices softened as the euro tumbled past the $1.30 mark Tuesday for the first time since September.  Investor appetite for gold as a haven amid Europe's sovereign debt upheaval also is giving copper futures some strength, as buyers look to diversify holdings across the metals complex. Copper has touched a low of Rs 380.8 a kg after opening at Rs 382.7, and last traded at Rs388.85.For today market is looking for the support at 383, a break below could see a test of 377.1 and where as resistance is now likely to be seen at 392.5, a move above could see prices testing 396.2.

Trading Ideas:

Copper trading range is 377.1-396.2.

Copper yesterday ended higher on strong US data

Copper is taking resistance at 390.60 and support is seen at 386.20.

Copper daily stocks at Shanghai exchange came down by 205 tonnes.