Copper ended lower as investors pocketed profits from gains on market optimism about a bailout package for Greece. LME copper warehouse stocks fell by 850 tonnes to 511,075 tonnes. COMEX copper stocks unchanged at
101,128 short tons as of Friday. Copper has touched a low of Rs 349.05 a kg after opening at Rs 351.15, and last traded at Rs349.6. For today market is looking for the support at 347.1, a break below could see a test of 344.6 and where as resistance is now likely to be seen at 354.1, a move above could see prices testing 358.6.

Trading Ideas:

Copper trading range is 344.6-358.6.

Copper yesterday ended down profit booking

Copper is getting resistance at 350.80 and support is at 348.20 level.

Copper daily stock at Shanghai exchange came up by 2992 tonnes.

SELL COPPER APR @ 350-350.50 SL 352.20 TGT 348.30-346.50.MCX