Copper futures has lost 1 per cent so far this week and is currently trading at ₹905 (per kg). Nevertheless, the broader trend remains bullish.
The September contract broke out of the resistance at ₹910 last week. It rose to hit a high of ₹921.50 on Monday before moderating to the current level.
The chart shows that despite the moderation in price, the outlook remains positive. From the current level, there is a series of support at ₹900, ₹892 and ₹885. Only a breach of ₹885, where a rising trendline coincides, will shift the near term outlook bearish.
So, as it stands, we expect copper futures to resume the rally from the current level of ₹905 or on the back of the support levels mentioned above. The upswing can lift the contract to ₹940.
Given the above factors, participants can consider buying copper futures.
Trade strategy
Buy copper futures at the current level of ₹905 and add longs on a dip to ₹892. Keep a stop-loss at ₹880. When the contract rises to ₹920, trail the stop-loss to ₹905. Book profits at ₹935.
Published on September 18, 2025