Copper futures has been in an uptrend with the recent leg rally beginning nearly a month ago. The December contract, now trading at ₹1,115 (per kg), started to move up on the back of the support at ₹1,000.
That said, the price action shows that the uptrend has lost some of its steam and the price region between ₹1,130 and ₹1,150 is a strong resistance.
We expect copper futures to see a decline because of the barrier ahead. The downtrend can drag the contract to ₹1,030, a support. Support below ₹1,030 is at ₹1,000.
Post this decline, the contract is likely to resume the rally.
On the other hand, if copper futures rallies from the current level and breaks out of ₹1,150, it will open the door for a rally to ₹1,200.
But as it stands, the likelihood of a corrective decline to ₹1,030 is high.
Trade strategy
Last week, we suggested going short at ₹1,086. Retain this trade and add short if copper futures rises to ₹1,130. Stop-loss can be at ₹1,155.
When the price slips to ₹1,055, revise the stop-loss to ₹1,070. Tighten the stop-loss further to ₹1,055 when the contract falls to ₹1,040. Book profits at ₹1,030.
Published on December 17, 2025
