Copper futures appreciated about 25 per cent in December. The January contract is currently hovering around ₹1,300 (per kg).
The trend has been sharp and at the moment there are no signs of a bearish reversal on the chart. But there is a barrier at ₹1,325. On Monday, the contract surpassed this level to mark a record high of ₹1,392.95. But it could not sustain above ₹1,325 and quickly fell below it.
Since there has been a quick rally recently, there is a chance for a sideways consolidation if not a corrective decline.
So, going ahead, copper futures might either consolidate between ₹1,200 and ₹1,350 or witness a decline to ₹1,160. Either way, the likelihood of a rally from the current level is low.
The contract should at least see a daily close above ₹1,325 to establish another uptrend. In such a case, the price can rise to ₹1,450 or even ₹1,500.
Trade strategy
Traders with high risk appetite can short copper futures (January) at ₹1,300. Target and stop-loss can be ₹1,160 and ₹1,350 respectively. After initiating the trade, when the contract slips to ₹1,200, revise the stop-loss to ₹1,250.
Published on December 31, 2025
