Zinc yesterday traded with the positive node and settled 0.99% up at 107.55. Some support had been seen from the LME stock also which came down by -25mt, the total stock at LME is now at 546150mt. In yesterday's trading session zinc has touched the low of 106.2 after opening at 106.35, and finally settled at 107.55. For today's session market is looking to take support at 106.6, a break below could see a test of 105.6 and where as resistance is now likely to be seen at 108.2, a move above could see prices testing 108.9. Spread between zinc APR & MAY contacts yesterday ended at 0.65, we have seen yesterday that the zinc market had traded with a positive node and settled 0.99% up. Spread yesterday traded in the range of 0.65 - 0.85.

Trading Ideas:

Zinc trading range is 105.6-108.9.

Kazakhstan zinc output fell during the period by 9.9% to 78,494 tons.

Support for the zinc is at 106.60 and resistance is at 108.20.

Zinc daily stock at Shanghai exchange came up by 3526 tonnes.

ZINC PROFIT BOOKING CAN BE SEEN BELOW 106.80 TILL 105 LEVEL WAIT FOR ENTRY