Copper Prediction for Monday, 3 August 2026: MCX Copper August futures Levels to Watch
- July 31, 2026
- Posted by: Ankit Jaiswal
- Category: News
Copper prediction for Monday, 3 August 2026: Rs 1,342.75 per kg, +0.32% on Friday. Support Rs 1,335, resistance Rs 1,350. RBI MPC begins Monday.
The copper prediction for monday, 3 August 2026, centres on MCX Copper August futures, which closed Friday at Rs 1,342.75 per kg, up 4.25 points or 0.32% from Thursday’s close of Rs 1,338.5. Copper stayed firm, supported by steady Chinese demand data and a weaker premium on London Metal Exchange stockpile drawdowns.
Univest analysts Ankit Jaiswal, Senior Research Analyst, and Kunal Singla, Associate Director, have built this copper prediction for monday using Friday’s MCX closing data and the broader macro calendar heading into next week. Ankit Jaiswal covers the technical structure while Kunal Singla layers in the demand and positioning context.
Copper Closing Overview for the Prediction for Monday
- MCX Copper August futures closed at Rs 1,342.75 per kg on Friday, +0.32% versus Thursday’s Rs 1,338.5 close.
- Copper stayed firm, supported by steady Chinese demand data and a weaker premium on London Metal Exchange stockpile drawdowns.
- The contract expires on 31 August, a date traders following this copper prediction for monday should track for rollover related volatility.
Copper Technical Analysis for the Prediction for Monday
| Metric | Level |
|---|---|
| Friday Close | Rs 1,342.75 (+0.32%) |
| Support | Rs 1,335 / Rs 1,325 |
| Resistance | Rs 1,350 / Rs 1,360 |
| Contract Expiry | 31 August |
Ankit Jaiswal builds this copper prediction for monday around Rs 1,335 as the near term pivot; a hold above it keeps the setup constructive, while a break would open a path toward Rs 1,325. On the upside, a close above Rs 1,350 would put Rs 1,360 back in focus for this copper prediction for monday.
F&O Calendar for the Copper Prediction for Monday
MCX Copper August futures expires on 31 August, and Kunal Singla flags that positioning typically builds through the first half of the expiry week before rollover activity picks up. Traders following this copper prediction for monday should watch open interest changes around the RBI policy verdict, since rate and currency moves often spill into MCX pricing.
RBI Policy Week and Global Cues for the Copper Prediction for Monday
The RBI Monetary Policy Committee meets from Monday, 3 August, to Wednesday, 5 August, with the repo rate decision due on the final day. The repo rate has held at 5.25 percent through three consecutive reviews, and most economists expect another hold.
Wall Street staged a sharp Thursday rebound, with the Nasdaq up 2.78 percent and the S&P 500 up 1.66 percent on Microsoft-led strength, a day after a Fed driven selloff. Brent crude eased to 89.03 dollars a barrel after an earlier spike above 93 dollars on Iran related strikes, and Gift Nifty August futures were trading near 24,422 on Friday morning.
Copper Prediction for Monday: Trading Strategy
- Use Rs 1,335 as the near term pivot for this copper prediction for monday; a sustained hold above it keeps the setup constructive.
- A close above Rs 1,350 would be the trigger for a fresh long bias toward Rs 1,360.
- Keep position sizes measured ahead of Wednesday’s RBI verdict, since currency moves around the decision can spill into commodity pricing.
- Respect stop losses below Rs 1,325 rather than averaging into a losing position into the 31 August expiry.
Risks to the Copper Prediction for Monday
- A stronger dollar following a hawkish RBI or Fed commentary could pressure this copper prediction for monday, particularly for gold and silver.
- Any fresh escalation in the Iran-US standoff could move crude oil and, by extension, the broader commodity complex sharply.
- Increased volatility is typical into the 31 August expiry as positions roll to the next month’s contract.
- A reversal in Thursday’s Wall Street rally when US markets trade Friday night could shift risk appetite across commodities before Monday’s MCX open.
Conclusion
This copper prediction for monday, 3 August 2026, points to MCX Copper August futures holding a range between Rs 1,335 support and Rs 1,350 resistance as the RBI policy week begins. Ankit Jaiswal and Kunal Singla both flag the RBI verdict on Wednesday and ongoing Iran-US tensions as the dominant swing factors for the week. A close above Rs 1,350 would strengthen this copper prediction for monday, while a break below Rs 1,335 would call for caution.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What is the copper prediction for monday, 3 August 2026?
Ans. The copper prediction for monday, 3 August 2026, points to MCX Copper August futures holding between Rs 1,335 support and Rs 1,350 resistance, after closing Friday at Rs 1,342.75 per kg.
What is MCX Copper August futures’s support and resistance for Monday?
Ans. Support is at Rs 1,335 and then Rs 1,325. Resistance is at Rs 1,350 and then Rs 1,360, based on Friday’s close of Rs 1,342.75.
When does MCX Copper August futures expire?
Ans. MCX Copper August futures expires on 31 August. Traders following this copper prediction for monday should watch for rollover related volatility as that date approaches.
How will the RBI MPC meeting affect this prediction for Monday?
Ans. The RBI Monetary Policy Committee meets from 3 to 5 August, with the rate decision due Wednesday. Currency moves around the verdict can spill into MCX commodity pricing, particularly for gold and silver.
What do Ankit Jaiswal and Kunal Singla say in this copper prediction for monday?
Ans. Ankit Jaiswal expects MCX Copper August futures to hold its recent range given Friday’s +0.32% move, while Kunal Singla flags the RBI verdict and global crude oil trends as the key triggers for the week.
Why did copper move higher on Friday?
Ans. Copper stayed firm, supported by steady Chinese demand data and a weaker premium on London Metal Exchange stockpile drawdowns.
What are the key global cues for commodity markets next week?
Ans. Brent crude eased to 89.03 dollars a barrel on Thursday after an earlier spike above 93 dollars on Iran related strikes, and the RBI policy verdict on Wednesday is the dominant domestic trigger for the week.
Should traders take fresh positions in copper ahead of the RBI decision?
Ans. Univest analysts suggest keeping position sizes measured ahead of Wednesday’s verdict and recommend consulting a SEBI-registered financial advisor before making investment decisions.
