Zinc futures (₹359/kg) has been on a decline since early June. After witnessing a recovery over the past few sessions, the price action now hints at a potential resumption in the downtrend.The July futures rebounded from the support at ₹350 towards the end of last week. It extended the rally in the first half of this week and marked a high of ₹364.55 on Tuesday before moderating to ₹359.The chart shows that that contract was unable to surpass the barrier at ₹364 and is likely to have started the next leg of fall. From the current level, we expect zinc futures to slip below ₹350 and subsequently decline to ₹340, a support.On the other hand, if there is a recovery from the current level of ₹359 leading to a breakout, zinc futures can rise further to ₹372. Resistance above ₹372 is at ₹376.That said, the broader bias is bearish at the moment. Trade strategySell zinc futures (July) at ₹359 with a stop-loss at ₹367. When the price falls to ₹345, revise the stop-loss to ₹350. Book profits at ₹340.Published on July 2, 2026