Copper futures, after appreciating 4.8 per cent last week, is up about 6 per cent so far this week. The April contract is now hovering around ₹1,280 (per kg). The price action shows that the uptrend retains good momentum and the probability of the contract scaling further up is high.

The nearest notable resistance is the price region between ₹1,320 and ₹1,335. If copper futures breaks out of the latter, the uptrend can extend to ₹1,400.

However, if the contract falls off the above-mentioned resistance band, it can drop to ₹1,250. A breakdown below this can turn the outlook negative, opening the door for a decline to ₹1,220. 

Either way, copper futures is likely to rise towards the price band of ₹1,320 and ₹1,335. 

But from a trading perspective, although the chances for a rally are high, the risk-reward ratio is unfavourable for fresh longs at the current level. Traders are suggested to wait for a corrective decline before entering fresh longs. Below is our recommendation.

Trade strategy

Buy copper futures (April) only if the price dips to ₹1,250. Place initial stop-loss at ₹1,220. When the contract rallies to ₹1,300, raise the stop-loss to ₹1,275. Book profits at ₹1,320.

Published on April 15, 2026