Copper Price Prediction for Tomorrow: MCX Levels and Outlook for Monday 24 August 2026
- August 23, 2026
- Posted by: Kunal Singla
- Category: Predictions
MCX Copper at Rs 1,384.15/kg (+0.91%) on 18 Aug 2026. High: Rs 1,386.00. Low: Rs 1,375.50. Support: Rs 1,368-1,370. Resistance: Rs 1,386.00.
Quick Answer
The copper price prediction for Monday, Monday 24 August 2026, is sideways in a corrective phase. MCX Copper fell +0.91% to Rs 1,384.15/kg on 18 August after yesterday’s exceptional 1.13% surge. Ankit Jaiswal notes that this is a normal profit-taking correction with support at Rs 1,368 to 1,370 (near today’s low of Rs 1,375.50). Kunal Singla adds that RSI correcting from overbought to neutral (52) is a healthy development for the copper price prediction for Monday.
The copper price prediction for Monday follows a +0.91% pullback on 18 August after MCX Copper surged 1.13% on 17 August. The contract opened at Rs 1,376.95, touched Rs 1,386.00, then sold to a low of Rs 1,375.50, settling at Rs 1,384.15. Ankit Jaiswal, Research Analyst at Univest, notes this corrective session is consistent with normal post-surge profit-taking in the copper price prediction for Monday cycle.
Kunal Singla, Research Analyst at Univest, observes that the copper price prediction for Monday benefits from underlying demand drivers: India’s infrastructure push and China’s construction sector. RSI correcting from overbought (above 65 yesterday) to neutral (52 to 55 today) creates a healthier base for the next leg up in the copper price prediction for Monday. LME copper above $9,500/tonne remains the key international support for the copper price prediction for Monday.
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Today’s Market Recap: Copper on 21 August 2026
- MCX Copper (31 Aug): Settled at Rs 1,384.15/kg (+0.91%). Normal profit-taking after yesterday’s 1.13% surge in the copper price prediction for Monday cycle.
- Nifty Metal: Fell +0.86% on 21 August, confirming broad base metal profit-taking that drove the copper price prediction for Monday lower.
- Hindustan Copper: After yesterday’s extraordinary 8.24% equity surge, profit-taking today is expected and signals normalisation in the copper price prediction for Monday.
Copper Price Prediction for Monday: Technical Analysis
Ankit Jaiswal’s copper price prediction for Monday identifies Rs 1,368 to 1,370 as critical support, near today’s low of Rs 1,375.50. A hold above Rs 1,368 in the copper price prediction for Monday suggests the correction is healthy rather than a reversal. A break below targets Rs 1,355.
Resistance at Rs 1,386.00 (today’s high) is the first hurdle in the copper price prediction for Monday. Kunal Singla notes that RSI at 52 to 55 is a healthy neutral reading, removing overbought conditions. A recovery above Rs 1,386.00 targets Rs 1,400 in the copper price prediction for Monday.
Trend for 24 August 2026 (Monday): Sideways (Corrective After 1.13% Surge)
Support: 1,368-1,370 | 1,355
Resistance: 1,386.00 | 1,400
Global Cues for Copper Price Prediction for Monday
- US Markets (14 Aug close): Dow Jones at 53,732 (-0.20%), S&P 500 at 7,785 (-0.20%), Nasdaq at 26,729 (-0.30%). Weak retail sales data (-0.6% in July) and subdued University of Michigan consumer sentiment (51, below forecast 55) signal caution.
- Asian Markets: Japan’s Nikkei 225 gained 2.1% to 66,970 on Monday, providing a partially positive cue for Asian risk assets.
- Institutional Flows (14 Aug): FII were net buyers of Rs 508 Cr and DII were net buyers of Rs 356 Cr in the cash segment, reflecting continued institutional support for Indian equities.
Key Events for 24 August 2026 (Monday)
- MCX Silver Mini 24 Aug options expire on Monday 24 August — Silver traders must roll to September contracts before market open on Monday
- MCX Copper and Natural Gas 24 Aug options also expire on Monday 24 August — significant rollover activity expected across base metals
- US EIA natural gas storage report (weekly) remains the primary fundamental driver for natural gas price predictions for Monday
- Weekend geopolitical developments (Iran-Strait of Hormuz) and global commodity sentiment will shape the Monday 24 August commodity market opening
Stocks Linked to Copper Price Prediction for Monday
| Name | CMP (Rs) | Day Change | Key Level for Tomorrow |
|---|---|---|---|
| Hindustan Copper | 560 | Profit-taking | Support: 545 | Resistance: 575 |
| Hindalco | 670 | -0.60% | Support: 660 | Resistance: 685 |
| Tata Steel | 940 | -0.60% | Support: 928 | Resistance: 955 |
Explore Copper-Linked Stocks on Univest Screener
Trading Strategy for Copper on Monday 24 August 2026
- Buy MCX Copper near Rs 1,368 to 1,370 support with stop below Rs 1,355 for the copper price prediction for Monday
- A recovery above Rs 1,386.00 in the copper price prediction for Monday targets Rs 1,400; trail stop at Rs 1,372
- RSI at 52 to 55 signals a dip-buying opportunity rather than a short in the copper price prediction for Monday
- Monitor Hindustan Copper equity above Rs 545 as confirming signal for the copper price prediction for Monday support
What Does Sentiment Indicate for Copper Price Prediction for Monday?
Sentiment for the copper price prediction for Monday is corrective but not bearish. The +0.91% decline follows a 1.13% surge and is a normal profit-taking session. Ankit Jaiswal notes underlying demand drivers (India infrastructure, China construction) remain intact for the copper price prediction for Monday.
Kunal Singla observes that RSI correcting from overbought to neutral (52) is actually a positive development for the copper price prediction for Monday. This normalisation creates a healthier base for the next leg up. As long as MCX Copper holds Rs 1,368, the copper price prediction for Monday stays in a dip-buying mode.
Risks to Copper Price Prediction for Monday
- A break below Rs 1,368 in the copper price prediction for Monday signals a deeper correction toward Rs 1,355
- Continued Nifty Metal weakness or a sharp China PMI miss could accelerate the copper price prediction for Monday decline
- Profit-taking from Hindustan Copper’s 8.24% equity surge may amplify copper selling pressure in the copper price prediction for Monday
- US dollar strength overnight would compress MCX copper prices in the copper price prediction for Monday
Download the Univest iOS App or Univest Android App to track live MCX copper prices and get expert copper price predictions.
Conclusion
the copper price outlook for 21 August, Monday 24 August 2026, is sideways in a healthy corrective phase. MCX Copper settled at Rs 1,384.15/kg (+0.91%) on 18 August after yesterday’s 1.13% surge. Ankit Jaiswal’s Monday’s MCX copper price forecast places support at Rs 1,368 and resistance at Rs 1,386.00.
Monitor the Rs 1,368 support as the key reference for the Wednesday’s copper price outlook. Download the Univest app for live MCX copper prices and expert research.
Disclaimer: Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice. Univest Research Analyst Registration No. INH000013776.
Frequently Asked Questions
What is the 21 August copper price outlook, Monday 24 August 2026?
Ans. the MCX copper price forecast for Monday is sideways in a corrective phase. MCX Copper fell +0.91% to Rs 1,384.15/kg on 18 August after yesterday’s 1.13% surge. Support at Rs 1,368, resistance at Rs 1,386.00. Ankit Jaiswal notes this is a normal correction in the copper price’s 21 August outlook.
Why did MCX copper fall on 18 August?
Ans. MCX Copper fell +0.91% on 18 August due to profit-taking after yesterday’s 1.13% surge and broader Nifty Metal weakness (+0.86%). Ankit Jaiswal notes this is corrective, not a reversal, in the copper price outlook for 21 August.
What are MCX copper support levels for Monday 24 August 2026?
Ans. The Monday’s MCX copper price forecast places immediate support at Rs 1,368 to 1,370 (near today’s low Rs 1,375.50) and strong support at Rs 1,355. Resistance is at Rs 1,386.00 and Rs 1,400.
Is the Wednesday’s copper price outlook a buying opportunity?
Ans. Kunal Singla notes that RSI correcting from overbought to neutral (52) in the 21 August copper price outlook is a healthy sign, creating a dip-buying opportunity near Rs 1,368 support if it holds.
What is the copper trading strategy for Monday 24 August 2026?
Ans. For the MCX copper price forecast for Monday, Ankit Jaiswal recommends buying near Rs 1,368 with stop below Rs 1,355. A recovery above Rs 1,386.00 targets Rs 1,400. Monitor Hindustan Copper equity as the confirming indicator.
