OCT 31 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 205 , S2 RS 201

R1 RS 210 , R2 RS 213

STAY SHORT AT RESISTENCE.

Copper falls 10 pct on higher stocks, demand fears.

- Copper lost more than 10percent of its value on Thursday

as rising London Metal Exchangestocks rekindled concerns

about demand and put the brakes on thisweek's short-

covering rally in industrial metals.

The bearish market sentiment grew after data showed the

U.S.economy shrank to a 0.3 percent annual rate in the

third quarter,its sharpest contraction in seven years.

London copper for three-month's delivery fell 10.2percent

to an intraday low of $4,180 a tonne after LME stocks

jumped6,575 tonnes to 223,875 tonnes -- a reminder

of the metal's weakened state of demand.

The metal -- seen as a key gauge of real economic activity --

closed at $4,210, down from $4,655 at the close on

Wednesday, whenit surged 12.6 percent.

In New York, copper for December delivery tumbled

19.75cents, or 9.5 percent, to settle at $1.8905 a lb on

the New YorkMercantile Exchange's COMEX division.

Prices have risen more than 33 percent this week as

investorscovered short positions, but for the month

prices are still downnearly 44 percent, which at the

end of the month could be thebiggest fall in at least

three decades.

On Monday, copper prices dipped to $3,590 a tonne,

their weakestlevel in more than three years.