The strong surge in Copper price that was in place since the beginning of this month seems to have paused. The Copper Futures contract traded on the Multi Commodity Exchange (MCX) made a high of ₹1,290.60 per kg last week and has gradually come down from there. The contract made a low of ₹1,261 and has bounced slightly from there. It is currently trading at ₹1,273 per kg.

Outlook

The trend is up and strong. The dip that has been seen over the last one week is just a correction within that. The gradual fall indicates the absence of strong sellers in the market to drag the price sharply lower.

Immediate support is in the ₹1,260-₹1,255 region which is holding well for now. Lower support is at ₹1,230 which can be tested only if the contract breaks below ₹1,255. But that looks less likely as seen from the price action over the last one week. Moving Average crossovers on the daily chart also strengthens the bullish case.

As such, the outlook continues to remain bullish, and the uptrend can resume in the coming days. MCX Copper Futures contract can rise to ₹1,350-₹1,400 in the short term.

Trade Strategy

Traders can go long now at ₹1,273. Accumulate on dips at ₹1,260. Keep the stop-loss at ₹1,220 initially. Trail the stop-loss up to ₹1,290 as soon as the contract goes up to ₹1,310. Revise the stop-loss higher to ₹1.320 and ₹1,335 when the contract touches ₹1,330 and ₹1,345 respectively. Exit the long positions at ₹1,360.

Published on April 22, 2026