Zinc yesterday traded with the positive node and settled 0.8% up at 106.75. Some support had been seen from the LME stock also which came down by -350mt, the total stock at LME is now at 540700mt. In yesterday's trading session zinc has touched the low of 105.85 after opening at 105.85, and finally settled at 106.75. For today's session market is looking to take support at 106.1, a break below could see a test of 105.5 and where as resistance is now likely to be seen at 107.2, a move above could see prices testing 107.6. Spread between zinc MAR & APR contacts yesterday ended at 0.60, we have seen yesterday that the zinc market had traded with a positive node and settled 0.8% up. Spread yesterday traded in the range of 0.25 - 0.60.

Trading Ideas:

Zinc trading range is 105.5-107.6.

Zinc yesterday rose along with other base metals after the job reports

Support for the zinc is at 104.70 and resistance is at 107.10.

Zinc weekly stock at Shanghai exchange came down by -202 tonnes.

BUY ZINC MAR @ 106 SL 104.80 TGT 106.80-107.40-108.MCX