Zinc futures (₹415/kg) has been in an uptrend since the final week of June. Over the last week though, it has stayed flat. While the bull trend is not negated, given the sharp rally recently, there might be a price moderation.The September contract began the rally in early July on the back of the support at ₹355. But during the last few sessions, it has been oscillating between ₹410 and ₹422.In case the contract slips below the support at ₹410, it can extend the downswing to ₹400. We expect zinc futures to resume the rally from ₹400. However, a breach of this base can trigger a deeper decline to ₹385.On the other hand, if the contract regains traction from the current level of ₹415 and surpasses the resistance at ₹422, it can strengthen to ₹440. Resistance above ₹440 is at ₹450.Overall, the above factors indicate that the direction of the breach of the ₹410-422 price range is the key.Trade strategyBuy zinc futures (Sep) if the price dips to ₹400. Place stop-loss at ₹388. When the contract rises to ₹425, tighten the stop-loss to ₹415. Book profits at ₹440.Published on September 3, 2026