Copper Futures Steady in Uptrend

Copper futures have shown resilience in recent weeks, rebounding from support levels and maintaining an uptrend. The September contract is currently trading at ₹1,405/kg after surpassing resistance at ₹1,400 on Wednesday.

This recovery is attributed to the 21-day moving average coinciding with the support level at ₹1,365 last week. As long as this support remains intact, the uptrend is expected to continue.

Analysts anticipate another leg of rally from the current level, potentially reaching ₹1,440. However, if a decline occurs from the current price, the contract can find support at ₹1,380 and ₹1,365.