Zinc ended down paring gains from intraday high Rs.106.05 on rebound in U.S dollar. Metals are consolidating after sharp gains in the past week. Zinc yesterday we have seen that market has moved -2.77%. Market has opened at 104.7 & made a low of 101.55 versus the day high of 106.05. The total volume for the day was at 37374 lots and the open interest was at 3210.Now support for the zinc is seen at 100.2 and below could see a test of 98.6. Resistance is now likely to be seen at 104.7, a move above could see prices testing 107.6.

Trading Ideas:

Zinc trading range is 98.6-107.6.

Zinc ended down paring gains from intraday high on rebound in U.S dollar

Support for zinc is at 100.60 and resistance is at 102.90.

Zinc daily stock at Shanghai exchange came down by -224 tonnes.

BUY ZINC FEB ABV 102.20 SL 101.40 TGT 102.90-103.40-104.MCX