Copper yesterday traded with the negative node and settled -0.55% down at 438.95 after two days of gains, on concerns that demand may wane in China because the top metals consumer is approaching its New Year holiday and also may further tighten monetary policy. Concerns about further monetary tightening in China also remain, with investors worrying any moves to rein in inflation could limit the country's demand but the outlook for copper remains positive due to expectations of a supply deficit this year. Copper was softer after data showed a larger-than-expected rise in the number of Americans applying for first-time jobless benefits last week, raising concerns about the U. S. economy. For today's session market is looking to take support at 436.6, a break below could see a test of 434.3 and where as resistance is now likely to be seen at 442, a move above could see prices testing 445.

Trading Ideas:

Copper trading range is 434.3-445.

Copper fell as China approaching its New Year holiday & tighten of monetary policy.

Copper was softer after data showed a larger than expected rise in the number of America.

Copper daily stocks at Shanghai exchange came down by 477 tonnes

SELL COPPER @ 341 SL 343.50 TGT 339.50-337.50-336.MCX