Zinc yesterday traded with the positive node and settled 1.74% up at 105.15. Some support had been seen from the LME stock also which came up by -275mt, the total stock at LME is now at 453925mt. In yesterday's trading session zinc has touched the low of 103.2 after opening at 103.5, and finally settled at 105.15. For today's session market is looking to take support at 103.75, a break below could see a test of 102.35 and where as resistance is now likely to be seen at 106, a move above could see prices testing 106.85.

Spread between zinc NOV & DEC contracts yesterday ended at 0.55. Spread yesterday traded in the range of 0.5 - 0.70.

Trading Ideas:

ZINC TRADING RANGE IS 99.50-106.50.

ZINC YESTERDAY ROSE AS PER EXPECTATION AROUND 2% FOLLOWING OTHER BASEMETALS.

BUY ZINC NOV @ 104.50-104.80 SL 103.70 TGT 105.20-105.90-106.50.

ZINC IS GETTING SUPPORT AT 103.75 AND RESISTANCE AT 106.00 LEVELS.

SPREAD BETWEEN ZINC NOV & DEC CONTRACTS YESTERDAY ENDED AT 0.55.