JULY 16 WEDNESDAY

SHORT TERM TREND : BEARISH : TARGET RS 348

LONG TERM TREND : BULLIISH : TARGET RS 405

S1 RS 350.30, S2 RS 348, S3 RS 345

R1 RS 354, R2 RS 357, R3 RS 359

PREFER SHORT AT RS 353.50 TO 354

STOP LOSS RS 357

TARGET RS 348

US copper futures end down on weak demand outlook.

U.S. copper futures ended lower Tuesday with economic jitters

and weakening demand trends in China, the world's leading

consumer, sparking another round of losses in the industrial

metal.

Copper for September delivery fell 5.20 cents, or nearly 1.4

percent, to close at $3.70 a lb on the the New York Mercantile

Exchange's COMEX division.

Copper under pressure from economic growth concerns after

Federal Reserve Chairman Ben Bernanke told Congress that

a weakening housing market, tighter credit conditions and

rising oil prices threaten the economy.

* Waning Chinese consumption trends for the first half of the

year provide further downward pressure on complex.

* Copper's inability to strengthen in the face of a weaker

dollar signals further liquidation pressures ahead due

to the weaker state of physical demand - Steve Platt,

futures analyst with Archer Financial Services.

* In currencies, the dollar sank to a record low against

the euro as concern about the health of the U.S. financial

sector continued to weigh on investor sentiment.

* A weaker American currency makes dollar-denominated

assets like copper more attractive for non-U.S. investors.

* Copper supported by labor unrest in South America.

* London Metal Exchange warehouse stocks rose 325

tonnes at 125,050 tonnes on Tuesday.

* COMEX copper stocks were down 616 short tons

to 8,421 short tons on Monday.

LME copper for delivery in three-months ended down

$140 at $8,145 a tonne from Monday's settlement.