DEC 22 MONDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 142.40 , S2 RS 140.10 , S3 RS 136

R1 RS 146 , R2 RS 148 , R3 RS 151.50

STAY SHORT AT RESISTENCE.

Copper extended a bounce from a fresh overnight low

dating back to October 2004 in Newyork futures

trade Friday morning , buoyed by the news that

US government will throw a life line to the ailing auto

industry.

Copper upside clouded by sluggish consumption growth

and mounting levels of stock in global ware houses.

Copper can go a fair bit lower as the weaker demand

environment and high inventory weigh on prices.

Weak data continue to worry the market .

Copper for Feb expiry under MCX India might see support

at Rs 136 levels and resistence can be seen at Rs 150 to

Rs 154.50 levels.

Copper might continue to trade lower as the economic

picture looms large over the industrial and construction

development.

Copper is the metal we would like to identify as having

the furthest downside potential from current levels.