OCT 17 FRIDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 228 , S2 RS 224

R1 RS 234 , R2 RS 238

SELL AT 234 TO 234.50

STOP LOSS RS 238

TARGET RS 228

Copper Prices Drop to Lowest Since 2006 on Economic Outlook .

Copper futures dropped in New York to the lowest price

since January 2006 on concern that a deepening global

slowdown will curb demand for the metal used in pipes

and wires.

Copper extended losses after a report showed U.S. industrial

output fell in September by the most in almost 34 years as

an aircraft strike and hurricanes magnified the effects of

the credit crunch. For all of the third quarter, output dropped

at an annual rate of 6 percent, the biggest decline since 1991,

the Federal Reserve said today.

On the London Metal Exchange, copper for delivery in three

months dropped $270, or 5.5 percent, to $4,650 a metric ton

($2.11 a pound).