Copper futures (₹1,338/kg) has been trading flat over the past few sessions. But it continues to trade below an important level, maintaining a bearish bias.

The June contract, which slipped below ₹1,350 nearly a couple of weeks back, made a low of ₹1,305.20 on June 11. But it has recovered since then and is now hovering around ₹1,338. 

That said, copper futures is trading below the support-turned-resistance of ₹1,350. There is a good chance for the contract to resume the decline on the back of this. A fresh leg of fall from here can drag the price to ₹1,275. 

On the other hand, if copper futures breaks out of the barrier at ₹1,350, the bulls could regain traction and lift the contract higher to ₹1,385. Resistance above ₹1,385 is at ₹1,420.

Overall, as it stands, copper futures trades below ₹1,350, retaining the bearish inclination. Therefore, traders can be short on the contract.

Trade strategy

Last week, we suggested selling copper futures (Jun) at ₹1,325 with a stop-loss at ₹1,350. Retain this trade. When the contract slips to ₹1,300, revise the stop-loss to ₹1,325. Book profits at ₹1,275.

Published on June 17, 2026