Zinc prices have risen well over the last one week. The Zinc futures contract on the Multi Commodity Exchange (MCX) has risen over 3 per cent in the past week. It is currently trading at ₹271 per kg.
Outlook
The overall bullish view is intact. Intermediate resistance is at ₹272. A break above it can take the MCX Zinc futures contract up to ₹276-278 in the short-term. In case the resistance at ₹272 holds on its first test, then a corrective dip to ₹269 can happen. After this corrective fall, the contract can reverse higher again and resume the uptrend. This leg of move will have the potential to breach ₹272 and take the contract up to ₹276-278 eventually.
Immediate support is at ₹269. Below that ₹266 is the next important support. The contract has to fall below ₹266 to turn the outlook negative. If that happens, a fall to ₹262-260 can be seen.
Trade strategy
Hold on to the long positions recommended at ₹265. Since the contract has touched ₹271 in the early trades today, the revised stop-loss will now be at ₹269.
Revise the stop-loss up to ₹272 and ₹274 when the price goes up to ₹274 and ₹276, respectively. Exit the long positions at ₹278.
Published on August 11, 2025
