Selling pressure has escalated in zinc as the euro dropped to a session low versus the dollar. Zinc yesterday traded with the negative node and settled -4.12% down at 81.4. In yesterday's trading session zinc has touched the low of 80.45 after opening at 85.35, and finally settled at 81.4. For today's session market is looking to take support at 79.5, a break below could see a test of 77.5 and where as resistance is now likely to be seen at 84.4, a move above could see prices testing 87.3. Spread between zinc JUN & JUL contracts yesterday ended at 0.95. Spread yesterday traded in the range of 0.95 - 1.2.

Trading Ideas:

Zinc trading range is 77.5-87.3.

Zinc slide yesterday on sell-off as euro falls

Resistance for zinc is seen at 82.70 and support is at 80.10.

Zinc daily stock at Shanghai exchange came down by -4401 tonnes.

SELL ZINC JUNE @ 83 SL 84.20 TGT 82.10-81.40-80.20.MCX