Zinc yesterday traded with the negative node and settled -1.06% down at 103.15. Some support had been seen from the LME stock also which came down by -125mt, the total stock at LME is now at 541050mt. In yesterday's trading session zinc has touched the low of 102.7 after opening at 104, and finally settled at 103.15. For today's session market is looking to take support at 101.9, a break below could see a test of 100.6 and where as resistance is now likely to be seen at 105.3, a move above could see prices testing 107.4.Spread between zinc MAR & APR contacts yesterday ended at 0.70, we have seen yesterday that the zinc market had traded with a negative node and settled -1.06% down. Spread yesterday traded in the range of 0.10 - 0.75. Trading Ideas:

Zinc trading range is 100.6-107.4.

Zinc yesterday from its high along with other metals on profit booking

Support for the zinc is at 101.90 and resistance is at 104.30.

Zinc daily stock at Shanghai exchange came up by 5594 tonnes.

BUY ZINC MAR ABV 103.50 SL 102.60 TGT 104.20-105-106.10.MCX