Copper settled flat when they got support from a firmer tone in equities and a softer dollar.  Demand in China, the world's largest consumer, remains strong, with an apparent consumption increase of 7% in December. Inventories of copper stored in LME warehouses fell 2,375 metric tons, leaving them at 541,150. The most recent Comex inventory data, released late Monday afternoon, were steady at 103,620 short tons. Copper has touched a low of Rs 312.3 a kg after opening at Rs 315.75, and last traded at Rs315.6.For today market is looking for the support at 312.3, a break below could see a test of 309 and where as resistance is now likely to be seen at 318.9, a move above could see prices testing 322.2.

Trading Ideas:

Copper trading range is 309-322.

Copper settled flat when they got support from a softer dollar

Resistance for the copper is at 316.90 level and support is at 314.10 level.

Copper daily stock at Shanghai exchange came up by 450 tonnes.

BUY COPPER FEB @ 315-316 SL 313.80 TGT 317.40-318.50-319.80.MCX