Zinc yesterday we have seen that market has moved 1.48% tracking a firming trend in base metals in global markets. Some support had been seen from the LME stock also which came up by -875mt, the total stock at LME is now at 610850mt. Market has opened at 101.55 & made a low of 101.55 versus the day high of 103.3. The total volume for the day was at 22627 lots and the open interest was at 6181. Now support for the zinc is seen at 101.8 and below could see a test of 100.8. Resistance is now likely to be seen at 103.6, a move above could see prices testing 104.3.

Trading Ideas:

Zinc trading range is 100.8-104.3.

Zinc yesterday moved 1.48% tracking a firming trend in base metals in global markets

Zinc looks to take support at 101.8 and resistance at 103.6.

Spread between zinc OCT & NOV contracts yesterday traded in the range of 1 - 1.25.