JULY 9 WEDNESDAY

SHORT TERM TREND : BEARISH: TARGET RS 345

LONG TERM TREND : BULLISH: TARGET RS 405

S1 RS 350, S2 RS 348, S3 RS 345

R1 RS 356, R2 RS 358.50, R3 RS 361

PREFER SHORTS AT RS 355.50 TO 356

STOP LOSS RS 358.50

TARGET RS 351

US copper ends at 3-week low in technical sell-off

U.S. copper futures closed at their lowest level since

mid-June on Tuesday as the red metal's pull-back

from last week's hurdle of $4 a lb intensified once

key chart points were broken, dealers said.

* Traders said sell-stop orders were triggered below

the 100-day moving average at around $3.76 and the

50-day moving average at around $3.74.

* The market's lack of follow-through through $4 signaled

an element of weakness, with technical indicators all

turning down .

* Copper shrugs off news of a magnitude 6.0 earthquake

in southern Peru after reports surface that mining

operations in the region were unaffected.

* Copper loses some of its fundamental support from the

resolution of a week-long nationwide strike in Peru.

* Uncertain demand signals from China, the world's largest

copper consumer, likely to keep a cap on the red metal's

near-term price potential.

* London Metal Exchange copper warehouse stocks rose

100 tonnes to 122,175 tonnes on Tuesday.

* COMEX copper stocks declined 175 short tons to

10,079 short tons on Monday.

* LME copper for delivery in three-months hit an

intraday low at $8,150.25 a tonne, down 3.1 percent,

before closing at $8,200 versus Monday's settlement

at $8,412.