Copper settled up as investor appetite for risk improved and the dollar surrendered recent gains against the euro after euro zone leaders agreed on a plan to help debt-strapped Greece. The most recent round of exchange inventory data was supportive, as declines as seen as a sign of a tightening market. LME copper warehouse stocks fell 1,900 metric tons Friday to 516,925. Weekly data from the Shanghai Futures Exchange showed a fall of 13,636 metric tons to 155,465. Copper has touched a low of Rs 340.3 a kg after opening at Rs 340.3, and last traded at Rs340.9.For today market is looking for the support at 340.3, a break below could see a test of 339.7 and where as resistance is now likely to be seen at 341.5, a move above could see prices testing 342.1.

Trading Ideas:

Copper trading range is 339.7-342.1.

Copper settled up as investor appetite for risk improved and $ surrendered against euro

Copper is getting resistance at 342.20 and support is at 339.60 level.

Copper weekly stock at Shanghai exchange came down by -13636 tonnes.

BUY COPPER APR ABV 342 SL 340 TGT 343.50-344.80-346.MCX