Copper futures are now trading at ₹1,170 (per kg). The April contract, after marking a low of ₹1,067.05 on March 19, has been on a slow recovery although the trend has been bearish since early February.

The price action shows that the contract can see some more uptick. However, it is likely to be capped at ₹1,180 – its 21-day moving average – or at the subsequent resistance at ₹1,200.

A resumption of the downtrend on the back of the ₹1,180-1,200 resistance band can trigger a downtrend to ₹1,070. A breach of this can drag it further lower to ₹1,050.

On the other hand, if copper futures breaks out of ₹1,200, the near-term outlook can turn bullish. In such a scenario, the contract can rise to ₹1,250. A breach of this can lift the contract to ₹1,300.

Overall, so long as the resistance at ₹1,200, the bias will be bearish and so, traders can consider short positions. Only a decisive breakout of ₹1,200 can bring opportunities on the upside. 

Trade strategy

Sell copper futures (April) if the price rises to ₹1,180. Target and stop-loss can be ₹1,070 and ₹1,215 respectively.

Published on April 1, 2026