OCT 15 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 253 , S2 RS 251
R1 RS 259.40 , R2 RS 263

SELL AT RESISTENCE.

Copper boosted by bailout plans, worries linger.

Copper prices jumped almost 10 percenton Tuesday after a

global effort to recapitalise banks lifted marketsentiment, but

prices later eased on growing worries over the outlook for

the global economy.

Plans by the United States to inject $250 billion into its

banks offered traders early cheer, and followed similar

moves in Europethat bolstered market confidence on

Monday .

But the rally eased as European equity markets fell back in

afternoon trade, after an early U.S. stock market rally ran out

of steam as concerns about demand and the health of the

global economy resurfaced.

Copper, used in construction and power industries, fell 22 percent

last week and is down by 40 percent since hitting a record

$8,940 a tonne on July 2.

Uncertainty about the depth of any recession in the United

States and Europe has persuaded many analysts to cut

price forecasts.