India copper futures are expected to open lower on Monday tracking markets in London, where weak equity markets revived worries about growth and demand for industrial metal, analysts said. The benchmark April contract MCCJ9 on the Multi Commodity Exchange, (MCX) closed 0.07 percent higher at 224.65 rupees per kg in the previous session. It may open at 221 rupees per kg, said Aurobinda Prasad, deputy manager-research with Karvy Comtrade in Hyderabad. At 9:44 a.m., three-month London copper 3.35 percent lower at $4,330.00 per tonne. Asian stock markets fell on Monday after an outbreak of swine flu in North America turned investors wary, at a time when the global economy is showing signs of recovering from deep recession. [ID:nSP428165]. "We expect copper to test 215 levels due to lower equity markets," said Prasad. "Good support is towards 217-217.50 (rupees) levels expect prices to correct lower towards this levels and find support there," said Paras Sejpal, an analyst with Transmarket Group. April zinc futures MZIJ9 ended flat at 69.45 rupees per kg, while lead for April delivery MLDJ9 closed steady at 70.90 rupees per kg in the previous session. GOLD: Futures are likely to open slightly higher following overseas markets, where chart-based buying picked up on an increase in China's bullion reserves, analysts said. The benchmark June contract MAUM9 closed 0.95 percent higher at 14,624 rupees per 10 grams in the last session. It may open at 14,670 rupees per 10 grams, said Kunal Shah, an analyst with Nirmal Bang Commodities. China has raised its gold reserves by 454 tonnes to 1,054 tonnes, making it the fifth-biggest country holder and raising prospects of further purchases. [ID:nSP417869] "Gold is looking positive for the day and may test 14,800-14,850 rupees," said Shah. Gold may trade in the range of 14,500-14,850 rupees, said Abhishek Chauhan, technical analyst with Angel Commodities.

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