Zinc yesterday traded with the positive node and settled 1.03% up at 106.5. Some support had been seen from the LME stock also which came down by -650mt, the total stock at LME is now at 545775mt. In yesterday's trading session zinc has touched the low of 105.55 after opening at 105.55, and finally settled at 106.5. For today's session market is looking to take support at 105.6, a break below could see a test of 104.6 and where as resistance is now likely to be seen at 107.5, a move above could see prices testing 108.4. Spread between zinc APR & MAY contacts yesterday ended at 0.7, we have seen yesterday that the zinc market had traded with a positive node and settled 1.03% up. Spread yesterday traded in the range of 0.65 - 1.05.

Trading Ideas:

Zinc trading range is 104.6-108.4.

Zinc ended higher tracking other base metals still looking firm above 105 level.

Support for the zinc is at 105.40 and resistance is at 107.70.

Zinc daily stock at Shanghai exchange came up by 2398 tonnes.

SELL ZINC APR @ 107 SL 107.90 TGT 106.20-105.30-104.80.MCX