Zinc yesterday traded with the positive node and settled 3.58% up at 114.25 tracking firming trend overseas. Buoyant trend at the domestic spot markets also influenced zinc prices. Some support had been seen from the LME stock also which came down by -450mt, the total stock at LME is now at 632800mt. In yesterday's trading session zinc has touched the low of 110.7 after opening at 110.7, and finally settled at 114.25. For today's session market is looking to take support at 111.8, a break below could see a test of 109.3 and where as resistance is now likely to be seen at 115.7, a move above could see prices testing 117.2. Spread between zinc NOV & DEC contracts yesterday ended at 0.9. Spread yesterday traded in the range of 0.9 - 1.4.

Trading Ideas:

Zinc trading range is 109.3-117.2.

Zinc ended higher tracking firming trend overseas

Zinc looks to take support at 112.80 and resistance at 115.70.

Zinc daily stocks at Shanghai exchange came up by 1780 tonnes.