TECHNICALS FOR DECEMBER 30

MCX FEB COPPER

SHORT TERM ; SIDEWAYS

LONG TERM ; BEARISH

SUPPORTS : 142, 140, 138

RESISTANCES ; 147, 149, 151

WAIT FOR CONFIRMATION.

Copper for March delivery closed up 0.80 cents at $ 1.3115

a lb on the Comex division after dealing in

a sessions range between 4 1.29 and $ 1.3290.

On the London Metal Exchange copper for threee month

delivery rose 4.1 % to a high of $ 2940 a tonne

from $ 2825 at the close on Wednesday.

The metal used in construction and power facilities

has lost almost 60 % in value this year and is

expected to remain weak in 2009 due to

global economic crisis.

Copper for Jan expiry under the MCX India might

see support at rS 140 levels and resistence for the same may

be at Rs 149 levels.