India's copper futures are expected to open higher tracking global cues on Tuesday, but a firmer rupee could cap gains later in the session, analysts said.
At 9:52 a.m., three-month LME copper was 1.04 percent higher at $3,410.25 a tonne.
The benchmark April contract MCCJ9 on the Multi Commodity Exchange (MCX) ended 0.9 percent higher at 175.70 rupees per kg.
The contract had gained 7 percent in the previous week.
"We expect sideways movements in copper and would not see major buying," said Pranav Mer, an analyst with India Infoline in Mumbai, adding the upside would be seen till 178.
It may open at 177 rupees per kg and may trade in the range of 171-180 rupees for the day, said Abhishek Chauhan, a technical analyst with Angel Commodities. March zinc MZIH9 ended at 57.45 rupees per kg, while lead for March MLDH9 closed at 54.10 rupees per kg.
GOLD:
India's gold futures are expected to open lower on profit-taking and would be further weighed by a firm rupee, analysts said.
"We expect more downside till 15,500 in gold," said Harish Galipelli, head of research with Karvy Comtrade in Hyderabad.
"Given the nature of the overbought nature of the market we can see some profit-taking," he added.
The benchmark April gold contract MAUJ9 closed 1.9 percent higher at 15,806 rupees per 10 grams.
It may open at around 15,725 rupees per 10 grams, and may trade in the range of 15,650-15,900, added Gnanasekhar Thiagarajan, director, with Commtrendz Research.
"Gold will have to break 16,050 to see further upside," said BG Manjunath Prasad, a technical analyst with Way 2 Wealth Securities in Mumbai.
