The May copper futures is now trading at ₹1,337/kg and June copper futures at ₹1,362/kg. Since the May contract is nearing its expiry on Friday (May 29), we will consider the June series for analysis.Copper futures (Jun) hit a high of ₹1,431.35 on May 13 and moderated. However, over the last few sessions, it has been consolidating in the narrow price band of ₹1,350-1,373. Nevertheless, the outlook remains positive as the price remains above the 21-day moving average and the chart shows no bearish signs.We expect copper futures (Jun) to resume the rally soon and retest ₹1,430. A breakout of this can lift the contract further to ₹1,450.On the other hand, if the support at ₹1,350 is breached, the downswing can extend to the price band of ₹1,300-1,320. A breakdown below ₹1,300 can turn the outlook bearish.That said, at the current juncture, the outlook stays bullish. Trade strategyLast week, we suggested buying May copper futures at ₹1,340. Exit this at the current market price of ₹1,337 and immediately go long on June copper futures at the current level of ₹1,362. Target and stop-loss can be ₹1,430 and ₹1,320, respectively.Published on May 27, 2026