Zinc prices drifted due to weak trend overseas. Subdued demand at the physical market also put pressure on the metal prices. Zinc yesterday we have seen that market has moved -2.98%. Market has opened at 95.6 & made a low of 91.6 versus the day high of 95.7. The total volume for the day was at 32943 lots and the open interest was at 8491.Now support for the zinc is seen at 90.9 and below could see a test of 89.2. Resistance is now likely to be seen at 95, a move above could see prices testing 97.4.

Trading Ideas:

Zinc trading range is 90.2-98.4.

Zinc prices drifted tracking weak trend overseas

Resistance for zinc is seen at 93.80 and support is at 91.40.

Zinc daily stock at Shanghai exchange came up by 2 tonnes.

SELL ZINC MAY @ 93.50 SL 94.50 TGT 92.80-91.80.MCX