Zinc ended higher recovering its previous losses supported by recovery in euro. Fall in LME zinc inventories as stocks fell 725 tons to 619,750 tons also supported the prices. Zinc yesterday we have seen that market has moved 0.79%. Market has opened at 88.8 & made a low of 87.15 versus the day high of 89.5. The total volume for the day was at 17882 lots and the open interest was at 3966.Now support for the zinc is seen at 87.6 and below could see a test of 86.2. Resistance is now likely to be seen at 89.9, a move above could see prices testing 90.9.

Trading Ideas:

Zinc trading range is 86.2-90.9.

Zinc ended higher supported by recovery in euro and fall in inventories

Resistance for zinc is seen at 89.90 and support is at 87.60.

Zinc daily stock at Shanghai exchange came down by -3124 tonnes.

SELL ZINC MAY @ 90 SL 91.10 TGT 89.30-88.50-87.80.MCX