JULY 25 FRIDAY

SHORT TERM TREND : BEARISH : TARGET RS 328

LONG TERM TREND : BULLISH : TARGET RS 405

S1 RS 333, S2 RS 330, S3 RS 328

R1 RS 337, 340.20, R3 343.60

PREFER SHORT AT RS 336.50 TO 337

STOP LOSS RS 340.20

TARGET RS 330

US copper hits to 6-week low on weak growth outlook .

The price of copper tumbled to a six-week low in New

York futures trade on Thursday as liquidation pressures

mounted in the face of a stronger dollar and global

economic growth concerns.

Copper for September delivery settled down 8.05 cents or

2.2 percent at $3.5770 per lb on the the New York Mercantile

Exchange's COMEX division. Earlier, it bottomed at $3.5550

which marked its lowest level since June 13.

Technical support in September contract pegged at its

200-day moving average at around $3.53, and then at $3.50.

Copper weakens on global economic concerns after

German data showed business confidence declined to

its lowest level in almost three years.

A steeper-than-expected drop in U.S. existing home

sales in June adds to the red metal's downside pressures

as concerns grow about the impact of the U.S. housing

slump on economic growth.

The dollar rose to a two-week high against the euro,

denting copper's appeal as an alternative investment.

London Metal Exchange inventories jumped 1,425 tonnes

to 130,875 tonnes on Thursday.

COMEX copper stocks fell by 156 short tons to 7,167

short tons on Wednesday.

LME copper for delivery in three-months ended down $180

at $7,900 a tonne from Wednesday's closing level.

Earlier, it hit a 6-week low at $7,887.