Copper settle modestly lower, as stronger U. S. dollar and higher inventory figures weigh. Still, the metal doesn't seem to be as overbought as silver or gold, as it hasn't seen the same level of speculation. LME warehouse stocks climbed 4,800 tonnes, bringing total levels to 402,125 tonnes, their highest since late April.

COMEX copper warehouse stocks jumped 1,374 short tons to 67,986 short tons as of Wednesday. Copper has touched a low of Rs 302 a kg after opening at Rs 305.45, and last traded at Rs304.15. For today market is looking for the support at 302.10, a break below could see a test of 300.10 and where as resistance is now likely to be seen at 305.90, a move above could see prices testing 307.70.

Trading Ideas:

COPPER TRADING RANGE IS 296-310.

COPPER SETTLED LOWER, AS STRONGER U. S. DOLLAR AND HIGHER INVENTORY FIGURES WEIGH

SELL COPPER @ 306-307 SL 309.40 TGT 304.80-303.40-302.10.MCX

COPPER IS GETTING RES AT 305.80 ABOVE THIS NEXT RES IS AT 307.20-309.60.

CHINA COPPER OUTPUT HITS ANOTHER RECORD HIGH IN OCTOBER

YESTERDAY LME STOCK FOR COPPER CAME Up BY 4800