Copper eased as U. S. economic data pointed to a slower economic recovery, inventories of the metal continued to rise, participants booked profits from the previous day's rally and the U. S dollar steadied. Inventories of copper continue rising. Copper stored in LME-monitored warehouses rose 4,725 metric tons, leaving them at 429,650. The most recent Comex inventory data, released late Monday afternoon, were up 600 short tons at 77,761 short tons. Copper has touched a low of Rs 317.35 a kg after opening at Rs 321.25, and last traded at Rs319.55. For today market is looking for the support at 317.20, a break below could see a test of 314.80 and where as resistance is now likely to be seen at 322.00, a move above could see prices testing 324.40.

Trading Ideas:

COPPER TRADING RANGE IS 312-328.

COPPER EASED AS U. S. ECONOMIC DATA POINTED TO A SLOWER ECONOMIC RECOVERY

HOLD / ADD COPPER @ 319.75 SL 317 TGT 320.50-321.80-322.60-324. MCX BTST

COPPER IS GETTING RES AT 320.80 ABOVE THIS NEXT RES IS AT 322.20-324.40.

COPPER MARKET DEFICIT 32,000 TONNES IN JAN-AUG - ICSG