What is Copper? Copper falls under the base metal category and its electronic configuration is [Ar]4s1 3d10. This metal’s density is 8.92 gm per centimeter cube and melting point is 1083 degree celcius. The colour of copper is redish brown. Copper is generally unreactive and does not corrode easily. Copper is widely used in industrial wires. See below Copper Price, chart and analysis.
Copper Price Trend Analysis
Copper Futures Daily Candlestick Chart
The chart above the daily candles will update automatically with Copper price movements. To see updated charts you need to refresh the page manually.
Coppers symbol in periodic table is Cu. The main usage of Copper is in electrical industry due to its high conductivity of electricity. Some other usages are in water pipes and making alloys like Brass (Cu+Zn).
The trading unit for copper in MCX is 1MT and trading unit for copper mini is 250 kgs. On other words Copper’s lot size in MCX is 1000 and lot size for copper mini is 250. For 1 rupee price movement traders gain OR lose Rs. 1000 and Rs. 250 in Copper Mini.
Copper is highly popular in MCX traders. You can use the opening range breakout strategy in Copper. Select heikin ashi candles on 15 minutes time frame and note the first 15 minute candles high and low. If any next heikin ashi candle breaks the high of the first candle of the day on closing basis open up a buy order. Similarly if any next heikin ashi candle breaks and closes below the low of the fist candle of the day open up a sell order.
Intraday traders can trade copper for a 2-3 points profit target and they can keep a protective stop loss of 1-1.5 points.
In Zerodha the positional margin requirement for Copper is around Rs. 21000 and intraday margin requirement is around Rs. 10500.