Zinc futures has gained over 5 per cent so far this month and is currently hovering around ₹308 per kg.
After facing a minor correction, the October contract rebounded from the support at ₹290, where the 21-day moving average coincides, last week. The uptrend is steady, and the likelihood of a rally is high. We expect it to reach 315 soon.
On the other hand, in case the contract declines, it could find support at ₹300 and ₹295.
That said, note the October contract expiry date is October 31. Therefore, we also provide the key levels with respect to November futures as well.
The November zinc futures, currently trading at a discount at ₹302, might also rise to ₹315 in the near term. A breakout of this can lift it further to ₹325. Notable support levels are at ₹296 and ₹290.
Trade strategy
Retain the buy on zinc futures we suggested at ₹290. But revise the stop-loss from the initial ₹275 to ₹298 as the contract is now trading at ₹308. Exit the trade at ₹315.
In case the above target or stop-loss is not triggered before the October contract expires on expiry day i.e., October 31, traders can roll over the longs to November contract at the prevailing prices. Target and stop-loss can be ₹315 and ₹295, respectively.
Published on October 29, 2025
