JULY 30 WEDNESDAY

SHORT TERM TREND : BEARRISH : TARGET RS 332

LONG TERM TREND : BULLISH: TARGET RS 405

S1 RS 335, S2 RS 332, S3 RS 328

R1 RS 338.50, R2 RS 340.70, R3 RS 343

PREFER SHORT AT RS 338.50 TO 338.70

STOP LOSS RS 341

TARGET RS 333

US copper futures end lower as dollar, oil weigh.

U.S. copper futures ended down on Tuesday, as a strong

dollar and broader weakness in the energy and precious

metals complexes dragged the industrial metal down

in tow.

Copper for September delivery HGU8 settled down

2.15 cents at $3.5905 a lb on the the New York

Mercantile Exchange's COMEX division.

Copper for September delivery settled down 2.15 cents at

$3.5905 a lb on the the New York Mercantile

Exchange's COMEX division.


* The session range ran from $3.5580 to $3.6270.

* The dollar surged to a one-month high on the back of

a sharp drop in crude oil prices and an unexpected rise

in U.S. consumer confidence in July.

* Copper, a key component in the home construction

sector, under additional pressure from data showing

home prices in 20 U.S. metropolitan areas fell at

a faster pace in May.

* Steady upticks in London Metal Exchange (LME) warehouse

stocks underscore market's concerns about waning global

demand growth.

* LME copper stocks rose by 675 tonnes to 136,725 tonnes on Tuesday.

* COMEX copper stocks were flat at 7,123 short tons on Monday.

* On the labor front, workers at Chile's new Gaby mine,

owned by world No. 1 copper miner Codelco, have reached

a collective labor deal with the state giant.

LME copper for delivery in three-months ended down $50

at $7,945 a tonne from Monday's closing level.