SEPT 23 TUESDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 324 , S2 RS 321

R1 RS 328 , R2 RS 332

BUY AT RS 324.20 TO 324

STOP LOSS RS 321

TARGET RS 328

Copper rallies on soft dollar, stock drawdown.

Copper rallied to its loftiest level inmore than two

weeks on Monday as the dollar slumped against the

euro andinventories fell in Asian warehouses,

suggesting a pick-up of demand in topconsumer

China.

Copper for delivery in three months on the London

Metal Exchange closed up 2.7 percent or $190 at $7,250

per tonne. On Thursday, it hit a nine-month low of $6,625.

In New York, copper for December delivery HGZ8 closed up 7.85

cents,or nearly 2.5 percent, at $3.2550 a lb on the New York

MercantileExchange's COMEX division.

The dollar slipped as investors awaited details of a planned

$700billion U.S. bailout of bad mortgage debt, likely the biggest

bailout inAmerican history, capping a dramatic week in the

U.S. financial markets.

Analysts said a 3,100-tonne fall in LME copper inventories, primarily

from the Gwangyang and Busan warehouses in Korea, suggested

demand fromChina, the world's largest importer and consumer

of copper, was starting topick up.

The global copper market balance remained in deficit by 130,000

tonnes between January and June this year, versus a deficit of

264,000 tonnes inthe corresponding year-ago period, the

International Copper Study Group(ICSG) said in its latest

monthly bulletin.