Zinc yesterday traded with the negative node and settled -0.28% down at 106.45. Some support had been seen from the LME stock also which came down by -625mt, the total stock at LME is now at 539300mt. In yesterday's trading session zinc has touched the low of 105.9 after opening at 107.2, and finally settled at 106.45.

For today's session market is looking to take support at 105.3, a break below could see a test of 104.2 and where as resistance is now likely to be seen at 108.2, a move above could see prices testing 110. Spread between zinc MAR & APR contacts yesterday ended at 0.60, we have seen yesterday that the zinc market had traded with a negative node and settled -0.28% down. Spread yesterday traded in the range of 0.15 - 0.60.

Trading Ideas:

Zinc trading range is 104.2-110.

Zinc yesterday ended down tracking weakness in other base metals

Support for the zinc is at 105.20 and resistance is at 107.60.

Zinc daily stock at Shanghai exchange yesterday came up by 1343 tonnes.

SELL ZINC MAR  BELOW 106 SL 107.20 TGT 105.30-104.40-103.20.MCX