India copper futures traded flat on Tuesday as pressure from weak London market was offset by a weaker rupee at a two-month low, analysts said. London copper prices softened on Tuesday as investors fretted about the outlook for demand due to deteriorating market conditions. "Copper is likely to face downward pressure with outlook still negative," said Pravin Singh, an analyst with Sharekhan Commodities in Mumbai, adding "it would be pressured by negative flow of news from various economies." Weak equity markets would also add pressure, Singh added. Copper stocks in the London Metal Exchange rose by 3,100 tonnes to 526,425 tonnes. The benchmark February contract MCCG9 was 0.03 percent higher at 161.30 rupees per kg at 3:48 p.m., after hitting a high of 163.6 rupees earlier. Copper may trade in the range of 155-162 for the day, said Navneet Damani, an analyst with Anand Rathi Commodities in Mumbai. For the short-term, selling is recommended at 161 rupees, with a stop loss of 164 rupees and a target of 158/150 rupees, Singh added. Analysts said traders would be awaiting for February's National Association of Homebuilders Index for further cues. At 3:48 p.m., February zinc MZIG9 was 0.18 percent higher at 54.55 rupees per kg, while February lead MLDG9 was down 1.61 percent at 54.95 rupees per kg. Nickel futures were 0.12 percent lower at 501.00 rupees. Pressure is coming in as stockpiles are at multi-year highs, said Singh, adding selling is recommended at 502 rupees, with a stop loss of 516 rupees and with a target of 465 rupees.

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