Copper prices have surged over 4 per cent in the past week. This has brough the month-long sideways consolidation to an end. The rise last week also indicates that the broader uptrend is intact and a new leg of upmove has begun.
The Copper Futures contract traded on the Multi Commodity Exchange made a bullish breakout of its ₹990-₹1,025 per kg range last week. The contract has risen well and sustains higher. It is currently trading at ₹1,053 per kg.
Outlook
The broader uptrend is intact, and the outlook remains bullish for the MCX Copper Futures contract. The region between ₹1,025 and ₹1,020 will now act as a good resistance-turned-support. Any dips from current levels will be limited to ₹1,020 as fresh buyers can come into the market.
The MCX Copper Futures contract can rise to ₹1,090-1,100. This bullish view will go wrong only if the contract declines below ₹1,020. In that case, the contract can fall back to ₹1,000-₹990. But such a fall looks less likely.
Trade Strategy
Traders can go long now at ₹1,053. Accumulate on dips at ₹1,040 and ₹1,030. Keep the stop-loss at ₹1,010. Trail the stop-loss up to ₹1,050 as soon as the contract goes up to ₹1,060. Revise the stop-loss higher to ₹1,060 and ₹1,070 when the price touches ₹1,068 and ₹1,080 respectively. Exit the long positions at ₹1,095.
Published on December 3, 2025
