JUNE 28 SATURDAY

SHORT TERM TREND : BULLISH : TARGET : RS 363

LONG TERM TREND : BULLISH : TARGET RS 370

S1 RS 356, S2 RS 354, S3 RS 352

R1 RS 360, R2 RS 362.50, R3 RS 365

US copper hits 2-mth high on tight supply signals.

The price of copper rose to a two-month high above

$3.88 a lb in New York futures trade on Friday as a

weaker dollar, falling warehouse stocks, and possible

issues in Peru helped provide the underpinnings for

the stronger price action.

The session range was from $3.8070 to $3.8850,

the highest level the contract has seen since its

May 5 peak at $4.22.

Extended losses in the U.S. dollar following

Wednesday's neutral Federal Reserve policy

statement gives broader commodity complex

a boost.

The possibility of a Peruvian miners' strike on

Monday could lend further support

- MF Global analyst Edward Meir.

Further declines in weekly copper inventories

monitored by the Shanghai Futures Exchange

helped set the stronger tone for the day


Copper inventories in Shanghai fell 3 percent

to 32,401 tonnes in the week ended Thursday,

compared with 33,417 tonnes the previous week.

London Metal Exchange (LME) copper

warehouse stocks fell by 150 tonnes to 122,900

tonnes on Friday -- down nearly 40 percent

since the start of the year.

LME copper for three-months delivery MCU3 ended

the day quoted at $8,530/$8,535 a tonne, after touching

$8,559, its highest level since May 1.

JUNE 26 THURSDAY

SHORT TERM TREND : SIDEWAYS : TARGET RS 352 TO 358

LONG TERM TREND : BULLISH : TARGET RS 370

S1 RS 352, S2 RS 350, S3 RS 348

R1 RS 356, R2 RS 358, R3 RS 360

MARKET IS EXPECTED TO MOVE SIDEWAYS


US copper tracks crude to lower close, eyes on Fed.


U.S. copper futures tracked the losses in the

crude oil market to a lower close on Wednesday,

while investors geared up for the Federal Reserve's

policy statement on the economy and interest rates.

Copper for July delivery HGN8 settled down 1.10 cents

at $3.7770 a lb on the the New York Mercantile

Exchange's COMEX division.

The session range was from $3.7345 to $3.8195.

Initial resistance in the July contract pegged at the May

16-19 double-top formation at around $3.86, while the

first level of support was seen at $3.75.

Most-active September copper HGU8 lost 1.35 cents

by the close to $3.7730.

Copper fell in line with crude oil, which dropped more

than $3 after U.S. weekly data showed crude inventories

in the United States build as high fuel prices continued

to erode demand.

In afternoon trade in New York, the dollar held

steady against the euro as investors

squared positions before the end of the Fed meeting.

The Fed is expected to leave interest rates unchanged

at 2 percent.

Copper has muted response to economic data that

showed new orders for long-lasting U.S. manufactured

goods hold steady in May, and new U.S. home sales fall

2.5 percent in May to an annual rate of 512,000 units.

Near-term demand uncertainties in China, the world's

largest copper consumer, seen keeping the market's

upside held in check.

London Metal Exchange copper warehouse stocks

fell 525 tonnes to 122,625 tonnes on Wednesday.

LME copper for three-months delivery MCU3 ended

down $100 at $8,300 a tonne from Tuesday's close.

JUNE 25 WEDNESDAY

SHORT TERM TREND : BULLISH : TARGET RS 363

LONG TERM TREND : BULLISH : TARGET RS 370

S1 RS 356, S2 RS 353, S3 RS 349

R1 RS 363, R2 RS 365, R3 RS 368

PREFER LONGS AT RS 356 TO 356.20

STOP LOSS RS 353

TARGET RS 360

Early US copper drifts in thin range ahead of Fed.

U.S. copper futures drifted to a lower open on

Tuesday as the market awaited direction from

U.S. Federal Reserve commentary about U.S.

inflationary pressures.

Copper for July delivery HGN8 was trading down

1.70 cents at $3.7925 a lb by 10:12 a.m. EDT

(1412 GMT) on the New York Mercantile

Exchange's COMEX division.

Traders continue to eye first resistance in the July

contract at the May 16-19 double-top formation at

around the $3.86 level.

Copper expected to trade in a quiet range leading

up to the U.S. Federal Reserve meeting on Wednesday

- analysts.

The Fed is expected to keep rates steady at 2 percent

on Wednesday when it concludes a two-day meeting,

but the market's attention will focus on the Fed's

post-meeting statement.

Stronger language could send the dollar higher

once again, creating more downward pressure on

metals. Language about flagging growth could, in

turn, open the door to further rate decreases, pressure

the dollar, and send most commodities higher.

Demand uncertainties from China, the world's

largest copper consumer, continue to cloud the

red metal's upside price potential.

China's refined copper imports fell 26.4 percent

on the month and 19 percent on year in May on

the back of strong international prices.

London Metal Exchange copper warehouse stocks

edged up 25 tonnes to 123,150 tonnes on Tuesday.

COMEX copper stocks were unchanged at 11,040

short tons on Monday.

LME copper for three-months delivery MCU3 last

traded at $8,367.50 a tonne, down $32.50 from

Monday's close.

JUNE 24 TUESDAY

SHORT TERM TREND : BULLISH : TARGET RS 368

LONG TERM TREND : BULLISH : TARGET RS 370

S1 RS 358, S2 RS 355.40, S3 RS 352

R1 RS 363, R2 RS 365, R3 RS 368

PREFER LONGS AT RS 358 TO 357.50

STOP LOSS RS 355

TARGET RS 363

Copper slips on Chinese demand concerns, lower stocks,

dollar supports .

Copper reversed earlier gains on Monday, which

saw the red metal touch a five-week high, as

concerns over the strength of Chinese demand

weighed on sentiment in midday trade.

At 11:51 a.m., London Metal Exchange (LME) copper

for three-month delivery was at $8,395 a tonne, up from

$8,435 at the close on Friday. Earlier, the metal touched

an intraday peak of $8,490 a tonne, its highest level

since May 19.

Chinese copper imports have fallen by 22.3 percent

in the first five months of the year to 611,306 tonnes,

according to customs data released Monday.

However, prices have found good support from the

dollar's weakness on Monday and a further decline in

LME inventories, keeping concerns over tight global

supplies to the forefront.

Inventories of the red metal monitored by the LME

fell by 875 tonnes to 123,125 tonnes in today's report

from the exchange.

JUNE 21 SATURDAY

SHORT TERM TREND : BULLISH : TARGET RS 365

LONG TERM TREND : NULLISH : TARGET RS 370

S1 RS 358, S2 RS 355 , S3 RS 352.60

R1 RS 363.60, R2 RS 368, R3 RS 372

PREFER LONGS AT RS 355.50 TO 355.20

STOP LOSS RS 352

TARGET RS 365

Copper Rises to Biggest Weekly Gain Since March as Dollar Falls .

Copper rose to a one-month high, heading for the

biggest weekly gain since March, as a weakening

dollar boosted demand for the metal as an

alternative investment.

Copper futures for September delivery gained

2.55 cents, or 0.7 percent, to $3.8035 a pound at

9:29 a.m. on the Comex division of the New York

Mercantile Exchange. A close at that price would

mark a 5.9 percent gain for the week, the most for

a most-active contract since the five days ended

March 28. Earlier, copper touched $3.84, the

highest for a most-active contract since May 19.

On the London Metal Exchange, copper for delivery

in three months gained $58, or 0.7 percent, to $8,388

a metric ton ($3.80 a pound). The metal has gained

25 percent this year before today and reached a

record $8,880 on April 17.

JUNE 19 THURSDAY

SHORT TERM TREND : BULLISH : TARGET RS 358

LONG TERM TREND : BULLISH : TARGET RS 370

PREFER LONGS AT RS 352 TO 351.50

STOP LOSS RS 349

TARGET RS 356

Copper Advances Close to One-Month High on Peru Supply Concerns

Copper rose for a second day in Asia, trading near the

highest in a month, as a protest threatened to disrupt

output in Peru, the third-largest supplier of the metal

used in wires and pipes.

Copper for delivery in three months rose as much as $48,

or 0.6 percent, to $8,287 a metric ton on the London Metal

Exchange, and stood at $8,265 at 10:04 a.m. Singapore

time. The contract climbed to $8,300 a ton yesterday,

the highest since May 22.

Copper for August delivery gained as much as 1,130 yuan,

or 1.8 percent, to 62,780 yuan ($9,128) a ton on the

Shanghai Futures Exchange, the highest since May 26.


The most-active contract stood at 62,550 yuan at

10.07 am local time.

Copper in London rose to a record $8,880 a ton on April

17 on supply disruptions in Chile and Mexico.


10:07 a.m. local time.

JUNE 18 WEDNESDAY

SHORT TERM TREND : BULLISH : TARGET RS 352

LONG TERM TREND : BULLISH : TARGET RS 370

S1 RS 342, S2 RS 339, S3 RS 334

R1 RS RS 346, R2 RS 349, R3 RS 353

PREFER LONGS AT RS 343.20 TO 343

STOP LOSS RS 340

TARGET RS 348

US copper slips then holds as weak dollar supports.

Copper closed in the red after closing at 1 week high

the day before.Copper prices were unable to stay in

the green on account of weaker housing data.

U.S. copper futures fell before steadying on lower ground

early Tuesday morning as a weaker tone in the dollar and

strong Chinese industrial production data were seen

limiting morning losses.

Copper for July delivery HGN8 was down 1.35 cents at

$3.6520 per lb by 9:45 a.m. EDT (1345 GMT) on the the

New York Mercantile Exchange's COMEX division.

Copper's short-term price direction continued to be driven

by the U.S. dollar.

JUNE 17 TUESDAY

SHORT TERM TREND : BULLISH : TARGET RS 352

LONG TERM TREND : BULLISH : TARGET RS 370

S1 RS 344.60 , S2 RS 341, S3 RS 338

R1 RS 348, R2 RS 352, R3 RS 355

Copper rose as the demand outlook has improved in

recent weeks and as stocks remain low, while fresh

inflation fears also boosted fund interest from those

buying commodities as a hedge.

China's production of refined copper rose

18.3 percent in May to 323,800 tonnes, while

aluminium output rose 21.3 percent to 1.16

million tonnes.

At 10:19 a.m., LME copper for three-month delivery

was at $8,021 a tonne up from $7,980 at the close

on Friday.

Tight and limited inventories across the globe are also

underpinning copper, with an LME daily report showing

stocks at multi month lows.

JUNE 13 FRIDAY


SHORT TERM TREND : BEARISH : TARGET RS 330

LONG TERM TREND : BULLISH : TARGET RS 370


PREFER SHORTS AT RS 336 TO 336.20

STOP LOSS RS 339

TARGET RS 330

Copper fell to the lowest in more than two

months as the dollar strengthened, curbing

demand from investors who buy commodities

as a hedge against inflation.


Copper futures for July delivery dropped 3.7 cents,

or 1 percent, to $3.5425 a pound at 12:28 a.m. on the

Comex division of the New York Mercantile Exchange.

Earlier, the metal touched $3.5065, the lowest

since March 20.

On the London Metal Exchange, copper for

delivery in three months fell $75, or 1 percent,

to $7,845 a metric ton. The metal reached a

record $8,880 a ton on April 17.

JUNE 11 WEDNESDAY


SHORT TERM TREND : BEARISH : TARGET RS 332

LONG TERM TREND : BULLISH TARGET RS 370


S1 RS 334.60, S2 RS 332, S3 RS 328

R1 RS 338, R2 RS 341, R3 RS 343

PREFER SHORTS AT RS 338 TO 338.50

STOP LOSS RS 341

TARGET RS 342

Copper Declines in London on Expectations

Demand Will Weaken .
Copper fell for a second consecutive day, leading

a decline in most contracts traded on the London

Metal Exchange, on expectations that slower

economic growth will curb demand for metals.

Copper for delivery in three months fell $110, or

1.4 percent, to $7,870 a metric ton as of 4:59 p.m.

on the LME. The contract is trading below the record

$8,880 a ton reached April 17. New York copper

futures fell 1.6 percent.

China's copper imports in the first four months fell 23

percent from a year earlier, according to customs data.

Copper also declined as the dollar advanced against

currencies such as the euro. A stronger U.S. currency

makes dollar-denominated commodities more

expensive for those holding other monies.


Copper inventories monitored by the LME declined for

a third day, dropping 0.5 percent to 120,550 tons.

Inventories jumped 13 percent last month, the biggest

gain since November. Copper stockpiles monitored by

exchanges in London, New York and Shanghai have

declined 28 percent this year.


Three-month copper will average $8,200 a ton this

year in London, London-based researcher CRU said today.

It averaged $7,103 last year.

JUNE 10 TUESDAY

SHORT TERM TREND : SIDEWAYS TARGET RS 334 TO 345

LONG TERM TREND : BULLISH : TARGET RS 370


Copper fell in London on speculation reduced crude oil prices may signal


slower investor demand for industrial metals.

Copper rose on June 6, the only increase last week, after oil surged 8.4 percent. Oil today

fell as much as 2.5 percent. Hedge funds and other large speculators were ``net short,'' or

betting on lower New York copper futures, last week for the first time since February, U.S.

government data showed.


Copper for delivery in three months fell $74, or 0.9 percent, to $7,926 a metric ton as of 4:27

p.m. on the London Metal Exchange. New York copper futures fell 0.9 percent.


Copper stockpiles in warehouses monitored by the Shanghai Futures Exchange have declined 59


percent in a year, and China's central bank said last month's earthquake may accelerate

investment in buildings and roads. China's imports of copper concentrate, an intermediate

product, rose 23 percent in the first four months this year.


Inventories of copper in warehouses monitored by the LME dropped 1,400 tons, or 1.1 percent,

to 121,150 tons, the exchange said in its daily warehouse report. That's the lowest since May 15.

The Shanghai exchange was closed for a national holiday

JUNE 6 FRIDAY

SHORT TERM TREND : SIDEWAYS : TARGET RS 333 TO 342

LONG TERM TREND : BULLISH : TARGET RS 370


Copper and aluminium gained around 2 percent on Friday, supported by a

weaker dollar and falling stocks in London and Shanghai, analysts said.

London Metal Exchange copper MCU3 gained $175 or 2.2 percent to $7,985

per tonne at mid-session, buoyed by threats to supplies from Chile and

short -- bets on lower prices -- position covering.

China, copper's top consumer, is closed on Monday for the Dragon Boat Festival.

JUNE 5 THURSDAY

Copper futures fell on stronger Dollar and on expectations that the demand for the

metal will continue to remain weak in U.S.

TRADE RECOMMENDATION

SELL AROUND RS 336

STOP LOSS RS 338.60

TARGET RS 33.350,331.40 AND 328

IMPORTANT SUPPORT AND RESISTENCE LEVELS

S1 RS 333.20, S2 RS 331.20, S3 RS 329.90

R1 RS 336.50 ,R2 RS 337.80, R3 RS 339.80

PIVOT RS 334.50

Copper Falls for Third Day in London After Dollar Strengthens .

Copper fell for a third consecutive day in London after the dollar

traded close to a two-week high against the euro, diminishing the

appeal of the metal as a currency hedge.

Copper for delivery in three months fell $55, or 0.7 percent, to $7,855

a metric ton as of 4:34 p.m. on the London Metal Exchange. The

contract lost 7.2 percent in May, the biggest monthly drop since November.

Stockpiles of the metal dropped for a fourth consecutive day, falling

650 tons, or 0.5 percent, to 122,250 tons, according to LME data.

Including those monitored by exchanges in New York and Shanghai,

they total 176,829 tons, or 3.4 days of global consumption, according to

Bloomberg calculations. Last year's average was 4.9 days.

JUNE 3 TUESDAY


SHORT TERM TREND : BEARISH : TARGET RS 330

LONG TERM TREND : BULLISH ; TARGET RS 370

S1 RS 33.20, S2 RS 330.40, S3 RS 328

R1 RS 338.40, R2 RS 340.50, R3 RS 342.60

PREFER INTRA DAY SHORT AT RS 338.40 TO 338

STOP LOSS RS 341

TARGET RS 33.50.

Copper fell on speculation slowing economic growth will damp demand

in the US and China ,the 2 biggest users of the metal.

Copper futures for June delivery fell 0.95 cent or 0.3 % to $ 3.5965

a pound on the Comex division of the New york Mercantile Exchange.

The metal has dropped 16 % from a record of $ 4.2605 on May 5 .

On the London Metal Exchange copper for dellivery in 3 months lost

$ 5 to $ 7930 a metric tonne.The metal has gained 19 % this year.

JUNE 2 2008 MONDAY

SHORT TERM TREND : BEARISH : TARGET RS 332

LONG TERM TREND : BULLISH :TARGET RS 370

MARKET IS EXPECTED TO MOVE SIDEWAYS TO LOWER.

PREFER SHORT AT RS 338 TO 338.50

STOP LOSS RS 341
.
TARGET RS 332

Copper may decline next week as the dollar gains against other currencies,

eroding the metal's appeal as a currency hedge.

Ten of 17 analyst and traders surveyed yesterday forecast copper

will drop next week.Copper for delivery for 3 months on the

London Metal Exchange has fallen 3.4% this week.