OCT 7 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERMTREND : BEARISH

S1 RS 264 , S2 RS 261

R1 RS 268 , R2 RS 271

SELL AT RS 268 TO 268.50

STOP LOSS RS 271

TARGET RS 264

Copper Plunges to 20-Month Low as Slower

Growth May Curb Demand .

Copper tumbled the most in more than a year to the

lowest price since February 2007 on concern that

the deepening credit crisis will stifle global growth

and reduce metals demand.


Copper futures for December delivery fell 19.8 cents,

or 7.4 percent, to $2.492 a pound at 12:22 p.m. on the

Comex division of the New York Mercantile Exchange.

A close at that price would mark the biggest one-day

drop since Jan. 3, 2007.

Commodities including copper have fallen as increasing market

turmoil slashed investor confidence and traders exited

leveraged bets.

UBS today lowered its price forecasts for copper. London- based

analyst Daniel Brebner cited ``the deterioration in demand

fundamentals experienced over the past quarter and the

likelihood that this could continue over the next 12 months

at least'' in a report.

On the London Metal Exchange, copper for delivery in three

months dropped $500, or 8.3 percent, to $5,510 a metric

ton ($2.50 a pound).