Zinc futures (₹358/kg) lost 1.7 per cent on Wednesday and it slipped below a support. For the near-term, the outlook now looks weak.

The June futures, after hitting a high of ₹376.65 on June 3, has been on a decline. It slipped below the support at ₹362 on Wednesday, indicating that the bears are gaining strength.

While the trend might not have turned bearish yet, we are likely to see a corrective fall from the current level of ₹358, possibly to ₹350, a support. A breach of this base will be an indication that the trend has turned bearish. Support below ₹350 is at ₹340.

That said, if zinc futures rally from the current level of ₹358, it will face resistance at ₹362 and ₹372. Only a decisive breakout of ₹372 will turn the outlook positive. Resistances above ₹372 are ₹377 and ₹390.

As it stands, the probability of a drop in price to ₹350 is high. 

Trade strategy

Go short on zinc futures (Jun) at ₹362. Target and stop-loss can be ₹350 and ₹370 respectively.

Published on June 11, 2026