Buy copper futures (Sep) now at ₹1,365 with a stop-loss at ₹1,355. Book profits at ₹1,400.
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Copper futures (₹1,365/kg) has been charting a sideways trend for nearly a month. Prior to getting into the consolidation phase, it rallied. Therefore, the bullish bias prevails. However, the longer it stays flat, the more the bears will gain traction.The September futures has been oscillating between ₹1,360 and ₹1,410 since early August. So, technically, the direction of the breach of this price band will decide the path of the next trend.In case the contract breaks out of ₹1,410, it can extend the rally to ₹1,440. Resistance above ₹1,440 is at ₹1,450.However, currently trading at ₹1,365, if the bears manage to drag copper futures below the support at ₹1,360, the near-term outlook will turn weak, possibly leading to a price decline to ₹1,330.Nevertheless, as it stands, the support at ₹1,360 holds and until this remains valid, the bulls will have an advantage. Trade strategyBuy copper futures (Sep) now at ₹1,365 with a stop-loss at ₹1,355. Book profits at ₹1,400.In case the stop-loss of the above long trade is triggered, it could mean that the support at ₹1,365 is breached and so, the likelihood of further fall will increase. In this case, one can initiate a fresh short position with a stop-loss at ₹1,375. Book profits at ₹1,330.Published on September 2, 2026
