AUG 8 FRIDAY

SHORT TERM TREND : BEARISH : TARGET RS 313

LONG TERM TREND : BULLISH: TARGET RS 405

S1 RS 318, S2 RS 315, S3 RS 312

R1 RS 321.50, R2 RS 324, R3 RS 326.60

PREFER SHORT AT RS 320.50 TO 320.70

STOP LOSS RS 324

TARGET RS 315

Copper Gains on Speculation Price Slump to Spur Metal Demand .

Copper rose for a second straight day on speculation

a recent price slump will spur demand from

China and elsewhere.

Copper futures for September delivery rose 0.95 cent,

or 0.3 percent, to $3.4433 a pound at 11:56 a.m. on

the Comex division of the New York Mercantile

Exchange. Earlier, the most- active contract gained

as much as 1.2 percent. The metal gained 0.2

percent yesterday.

Crude oil jumped as much as 2.7 percent on renewed

supply concerns. Before today, oil tumbled 19 percent

from a record on July 11.

On the London Metal Exchange, copper for delivery in

three months gained $31, or 0.4 percent, to $7,646 a

metric ton ($3.47 a pound). Before today, the price

dropped 1 percent in the past 12 months.