Copper futures: Correction in the cards

Copper futures, currently trading at ₹1,295 (per kg) has largely been facing a flat trend over the past three weeks. In the preceding weeks, it saw a sharp rally.

Although the overall trend remains bullish, the recent consolidation indicates a loss in momentum. Also, there is a resistance ahead ₹1,350. These factors show that copper futures might experience a corrective decline, if not a bearish trend reversal.

A potential decline from the current level can drag the contract to ₹1,250. A breach of this can extend the downtick to ₹1,160.

On the other hand, if copper futures regain traction and sees a daily close above ₹1,350, it can reignite the uptrend, potentially taking the contract to ₹1,450. A breakout of this can take it further higher to ₹1,500.

Overall, the bull trend has not been negated. However, since copper futures has seen a sharp rally in the recent months and that there is a barrier ahead, the chances for a price correction is high.

Trade strategy

We suggested selling copper futures (January) at ₹1,300. Retain this trade and maintain stop-loss at ₹1,350. When the contract slips to ₹1,200, trail the stop-loss to ₹1,250. Book profits at ₹1,160.

Published on January 21, 2026