Copper futures (₹1,420/kg), while maintaining a broader positive inclination, has been trading flat recently.

The October futures has been oscillating between ₹1,395 and ₹1,432 in the last three weeks. Nevertheless, the price action since July shows that it has been forming higher bases, retaining a bullish bias.

Supporting the same, the price of the contract remains above both 21- and 50-day moving averages.

However, the chart shows that copper futures has not been able to crack the resistance at ₹1,432 despite bulls holding an edge.

In case the contract breaks out of ₹1,432, it can establish a fresh leg of rally, potentially taking the price higher to ₹1,480, a resistance. The next barrier is at ₹1,500.

However, if copper futures falls from the current level of ₹1,420, it can find support at ₹1,400, ₹1,375 and ₹1,360. Only a breakdown below ₹1,360 will turn the outlook bearish. Notable support below ₹1,360 is at ₹1,340.

Overall, the outlook continues to be positive. However, a prolonged consolidation around the resistance of ₹1,432 increases the risk of a fall.

Buy copper (Oct) futures on a break out of ₹1,432. Place stop-loss at ₹1,400. When the contract rises to ₹1,460, tighten the stop-loss to ₹1,440. Book profits at ₹1,480.

Published on October 14, 2026