Lead May futures is trading at ₹204.15/kg and lead June futures is hovering around ₹207/kg. Since the May contract is expiring on May 29 (Friday), we shall consider the June series for analysis.Lead June futures retains the positive outlook. Key support levels are at ₹204 (its 21-day moving average) and ₹202. So long as these levels hold, the outlook will be positive. The contract is likely to extend the uptrend to ₹212, a potential resistance. A breakout of ₹212 can lift it further to ₹215.However, if there is a decline which can drag lead futures below the support at ₹202, the outlook can turn bearish. In this case, the contract can extend the decline to ₹198. Support below this level is at ₹196.Overall, the outlook remains positive at the moment and we expect lead futures (Jun) to hit ₹212 in the near-term. So, traders can retain the longs. Trade strategyWe suggested buying lead futures (May) at ₹203. Rollover the long to June series. That is, exit May futures now at ₹204.15 and buy June futures at the current market price of ₹207. Target and stop-loss can be ₹212 and ₹202 respectively. Published on May 28, 2026