Copper futures (₹1,382/kg) hit a two-month high of ₹1,396.55 on August 6. Since then, it has remained flat, mostly oscillating between ₹1,365 and ₹1,390.The trend has been up for more than a month, and there are no signs of a reversal. However, there is notable resistance in the ₹1,390-₹1,400 range.At the moment, there are two possibilities. One, copper futures will break out of the barrier at ₹1,400 and continue their ascent. Two, it could see a moderation in price.In the first scenario, confirmation of continuation in the rally is the breakout above ₹1,400. In this case, copper futures can rise to ₹1,430.Whereas, for the second, there should be a reversal pattern on the chart or a break below the support at ₹1,365. A breach of ₹1,365 can trigger a fall to ₹1,350 and possibly to ₹1,320.Either way, from a trading perspective, the current market price is not an ideal level to initiate new positions.Trade strategyWhile ideally one should wait for confirmation of the next trend’s path, we suggest that traders with a high risk tolerance short copper futures (Aug) at ₹1,385. The target and stop-loss can be set at ₹1,350 and ₹1,405, respectively.Published on August 12, 2026