Zinc yesterday traded with the positive node and settled 1.38% up at 101.8. Global Zinc consumption is also expected to increase; this will lead to a decline of 11 percent in the Zinc stocks which will be around 4.2 weeks of consumption. Ministry of Industry and Information Technology of China (MIIT) said its 2009 yearly review that the Chinese imports of unwrought zinc was 802900 tonnes up 1.43 times. Imports of Zinc concentrates were 3.85 million tonnes increasing 61.50% from corresponding period previous year. For today's session market is looking to take support at 100.3, a break below could see a test of 98.8 and where as resistance is now likely to be seen at 102.7, a move above could see prices testing 103.5.

Trading Ideas:

Zinc trading range is 98.8-103.5.

Zinc up on global zinc consumption is also expected to increase; this will lead to a decline of 11% in the Zinc stocks.

Imports of Zinc concentrates were 3.85 million tonnes increasing 61.50% from corresponding period previous year.

Zinc is getting resistance at 102.80 and support is likely to get at 99.60 level

BUY ZINC FEB @ 101.80 SL 100.90 TGT 102.60-103-103.40.MCX

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY 0