OCT 8 WEDNESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 268 , S2 RS 264

R1 RS 274 , R2 RS 278

Copper Rises on London Metal Exchange, Reversing Earlier Drop .

Copper for delivery in three months gained $60, or 1.1 percent,

to $5,620 a metric ton as of 12:13 p.m. local time. It earlier

fell as much as 1.4 percent to $5,480 a ton.

A jump in the inventory of 9600 MT took the wind out of the

market Copper was at its lowest level in two years

as worries over the health of the global economy and overall

metal demand weighd on the sector.

Copper has support at $ 5250 and Resistence at $ 6300.

It is showing some signs of stabilisation after yesterday's

harrowing plunge. Traders say it is quite oversold now.

Analyst say the charts suggest that we could test the

early 2007 low of $ 5520.