Zinc prices have risen sharply over the last three weeks. The Zinc Futures contract traded on the Multi Commodity Exchange (MCX) has surged about 8 per cent from the low of ₹348.65 per kg made last month. It is currently trading at ₹376 per kg.OutlookThe recent rise has taken the MCX Zinc Futures contract well above an intermediate resistance level of ₹367. However, an important trendline resistance is ahead at ₹383. The slowdown in the pace of rise over the last one week indicates that that buying interest is fading out slowly. So, the price action in the coming days will need a very close watch.A decisive break above ₹383 is needed to boost the momentum and keep the current upmove intact. If that happens, there are good chances to see a rally to ₹420 in the coming weeks.But if the contract fails to breach ₹383 and turns down, a fall to ₹365 is possible. We will have to wait and watch.Trade StrategySince a strong resistance is coming up, fresh long positions are not advisable at the moment. Also, to take a short position we need to wait and see if the resistance is holding well or not. So, it is better to stay out of the market for now.Published on July 16, 2026