Copper Futures Rally Continues, Eyes ₹1,400 Target
Copper futures in India are experiencing a sustained uptrend, with the August contract nearing the ₹1,400 per kilogram mark. This price increase is driven by global supply and demand factors, signaling strong momentum in the market.
The rally has been significant over the past month, maintaining an upward trend that has caught the attention of market participants. After a brief correction, the August futures contract rebounded from its critical support level of ₹1,325 per kilogram, confirming a return of positive sentiment and pushing prices above the immediate resistance hurdle of ₹1,360.
The current price action shows copper attempting to clear the resistance zone near ₹1,375. If momentum holds, the contract is likely to target the ₹1,400 mark. A successful and sustained move above this level could potentially open the path for prices to reach ₹1,430.