Copper ended steady as investors moved to the perceived safety of the U. S. dollar and sold the metal along with equities as investors' appetite for risk waned. Copper has touched a low of Rs 340 a kg after opening at Rs 340, and last traded at Rs340.85. For today market is looking for the support at 340.10, a break below could see a test of 339.50 and where as resistance is now likely to be seen at 341.30, a move above could see prices testing 341.80. Inventories of copper stored in LME-monitored warehouses rose 1,500 metric tons Friday, leaving them at 525,475 tons.

Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly rise of 1,774 metric tons to 100,588 tons.

Trading Ideas:

Copper trading range is 332-348.

Copper ended steady as investors moved to the perceived safety of the U. S. dollar

Chile's copper exports rose to $3.17 billion in December from $1.22 billion

Copper weekly stock at Shanghai exchange came up by 1774 tonnes.

BUY COPPER FEB ABV 342 SL 340.60 TGT 343.20-344.50-345.80. MCX