The zinc contract is likely to rise up to ₹440 in the coming sessions
| Photo Credit:
victorn
Zinc futures (₹427/kg) continued to move up and hit a record high of ₹429.95 on Thursday. The upward momentum appears strong and further gains are highly likely.The September futures has been consolidating between ₹410 and ₹422 recently. But early this week, the contract broke out of ₹422 and rallied. After marking a high of ₹429.95, it is now hovering around ₹427.As the uptrend is intact, the contract is likely to gain more in the coming sessions, possibly to ₹440, a potential resistance. A breakout of this can lift zinc futures to ₹450.However, if there is a decline from the current level of ₹427, it can retest the resistance-turned-support of ₹422. A breach of this can drag the contract lower to ₹412, its 21-day moving average. So long as zinc futures remains above this average, the trend will remain bullish.Overall, from a trading perspective, participants can consider long positions.Trade strategyBuy zinc futures (Sep) if the price dips to ₹422. Place stop-loss at ₹410. When the contract rises to ₹432, tighten the stop-loss to ₹425. Book profits at ₹440.Published on September 10, 2026
