India copper extended gains for a fifth day on Monday on improved demand outlook for the industrial metal as rising equity markets signaled a revival in global economy, analysts said. The benchmark April copper contract MCCJ9 was 2.47 percent higher at 205.65 rupees per kg at 3:35 p.m., after having gained 2.8 percent in the previous four sessions. "Strong equity markets and higher Chinese import data is supporting the market," said Vishal Maniyar, an analyst with Karvy Comtrade in Hyderabad. The U.S. plan to cut toxic asset also buoyed sentiment, analysts said. The United States government on Monday offered generous financing to private investors to help cleanse $1 trillion of toxic assets that are blocking lending and worsening the deep U.S. recession. [ID:nSP429491] However, a rise in stocks in the London Metal Exchange and a strong rupee kept the upside limited. Copper stocks rose by 4,375 tonnes to 508,325 tonnes on Monday. Analysts said copper will face formidable resistances after it reaches 211 rupees. "We can see an upside of 211, which is a major resistance level," said Navneet Damani, an analyst with Anand Rathi Commodities. "The bias is on the higher side with a possibility of 210 levels," said Maniyar, adding support is placed at 204 levels.

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