Zinc prices have been moving up well over the last one week. The Zinc Futures contract traded on the Multi Commodity Exchange (MCX) has risen back well after making a low of ₹338.20 per kg last Wednesday. The contract has risen above 3 per cent from this low and is currently trading at ₹348 per kg.

Outlook

The rise in the past week keeps the broader uptrend intact. The 21-Day Moving Average (DMA) is giving good support for the contract. This 21-DMA support is currently at ₹342.

Resistance is in the ₹350-₹355 region. A strong break above ₹355 can boost the bullish momentum. Such a break can trigger a fresh rise to ₹375-₹380 in the coming weeks.

The short-term outlook will turn negative only if the contract break below the 21-DMA support. Such a break can take the MCX Zinc Futures contract down to ₹335-₹330. But this fall is less likely.

We expect the Zinc contract to continue to sustain above the 21-DMA support and go higher in the coming days.

Trade Strategy

Traders can go long now at ₹348. Accumulate on dips at ₹344. Keep the stop-loss at ₹337. Trail the stop-loss up to ₹351 as soon as the contract goes up to ₹355. Revise the stop-loss higher to ₹356 and ₹359 when the contract touches ₹358 and ₹361 respectively. Exit the long positions at ₹365.

Published on May 7, 2026