Copper settled down on Saturday due to slight profit booking on weekend after prices rose on Friday,as investors looked to positive signals from top consumer China. China is the world's largest consumer of industrial metals, accounting for nearly 40 percent of global demand estimated at around 21 million tonnes this year. Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 14.6 percent from last Friday, the exchange said. Copper has touched a low of Rs 410.65 a kg after opening at Rs 412.35, and last traded at Rs411.1.For today market is looking for the support at 410.4, a break below could see a test of 409.7 and where as resistance is now likely to be seen at 412.1, a move above could see prices testing 413.1.

Trading Ideas:

Copper trading range is 409.7-413.1.

Copper ended down on Saturday after gaining Friday as falling global stockpiles as an excuse to buy.

Copper is taking resistance at 412.80 and support is seen at 409.60

Copper weekly stocks at Shanghai exchange came down by 15357 tonnes