Zinc stockpiles monitored by the Shanghai Futures Exchange grew 4,148 tons to 248,440 tons, based on a survey of eight warehouses in Shanghai, Guangdong and Zhejiang, the exchange said. That's the highest level since April 2007, when the contract was launched. Zinc yesterday we have seen that market has moved 0.09%. Market has opened at 105.4 & made a low of 105.35 versus the day high of 105.45. The total volume for the day was at 372 lots and the open interest was at 4270.Now support for the zinc is seen at 105.4 and below could see a test of 105.3. Resistance is now likely to be seen at 105.5, a move above could see prices testing 105.5.

Trading Ideas:

Zinc trading range is 105.3-105.5.

Zinc shanghai stocks rose to highest level since April 2007

Support for the zinc is at 104.20 and resistance is at 106.20.

Zinc weekly stock at Shanghai exchange came up by 4148 tonnes.

BUY ZINC APR ABV 105.60 SL 104.70 TGT 106.20-106.90-107.50.MCX