Copper futures, currently trading at ₹1,000 (per kg), has appreciated nearly 5 per cent so far in October. The outlook remains positive.
The contract broke out of a key resistance at ₹985 towards the end of last week. This has opened the door for further rally. That said, ₹1,000 is a psychological resistance and we cannot reject the possibility of a correction in price, at least a minor one, from here.
If there is a corrective decline, it is unlikely to go beyond ₹985. But if the copper futures recovers from the current level itself and decisively surpasses ₹1,000-mark, it can extend the upswing to ₹1,025 in the short-term.
On the other hand, if copper futures drops and breaches the support at ₹985, it can extend the downtrend to ₹960 and then possibly to ₹950, notable support levels.
Overall, as it stands, the uptrend is intact and we expect copper futures to rally either from the current level or after a dip to ₹985.
Trade strategy
Stay out for now. Buy copper futures if the price dips to ₹985. Target and stop-loss can be ₹1,025 and ₹970 respectively.
But if the contract breaks out of ₹1,000 without a falling to ₹985, consider going long. In this scenario, target and stop-loss can be ₹1,025 and ₹990 respectively.
Published on October 8, 2025
