Zinc futures has been in a long-term uptrend. The July contract is now at ₹384/kg whereas the August series is at ₹379/kg. Since the July contract expires on Friday (July 31), we shall pick August futures for analysis.The August zinc futures broke out of a resistance at ₹376 last week. But since then, it has largely been moving sideways between ₹375 and ₹381. The uptrend remains valid and so long as the contract trades above ₹370, the near-term outlook will be bullish. So, we expect zinc futures (Aug) to surpass ₹381 soon and rally to ₹400.However, if the contract declines from the current level and breaches the support at ₹370, the near-term outlook can turn weak. This can potentially lead to a fall to ₹355. Support below ₹355 is at ₹348.Trade strategyLast week, we had suggested buying the July futures at ₹382 with a stop-loss at ₹370. Since it expires on Friday and that the outlook on zinc futures is positive, traders can roll-over the longs to August futures.That is, exit the July contract now at ₹384 and go long on August futures at ₹379. Place stop-loss at ₹366. When the contract rises to ₹390, revise the stop-loss to ₹3832. Book profits at ₹400.Published on July 30, 2026