Zinc yesterday hit a contract high tracking firm London markets and weak INR. "The Bull Run continues in metals, but a short year-end profit-taking before the contract expiry cannot be ruled out; metals contract to expire today. Zinc yesterday we have seen that market has moved 0.72%.

Market has opened at 118.35 & made a low of 118.3 versus the day high of 119.9. The total volume for the day was at 14792 lots and the open interest was at 4476. Now support for the zinc is seen at 118.20 and below could see a test of 117.40. Resistance is now likely to be seen at 119.80, a move above could see prices testing 120.60.

Trading Ideas:

Zinc trading range is 115-123.

Zinc yesterday hit a contract high tracking firm London markets and weak INR

As told zinc above 120 marks still looks till 122-124 level

As today is the last trading day for the dec contact some short covering can be seen in zinc.

BUY ZINC JAN ABV 119.50 SL 118.20 TGT 120-120.80-121.60-122.20. MCX