Zinc extended losses on chart-based selling after contract last week fell to its 10-month low. Metals plunge further on renewed concerns that the euro zone's fiscal and debt problems could spread beyond Greece and Spain. Zinc yesterday we have seen that market has moved -0.71%. Market has opened at 76.5 & made a low of 74.35 versus the day high of 77.05. The total volume for the day was at 27509 lots and the open interest was at 8755.Now support for the zinc is seen at 75 and below could see a test of 73.3. Resistance is now likely to be seen at 77.7, a move above could see prices testing 78.7.

Trading Ideas:

Zinc trading range is 73.3-78.7.

Zinc yesterday extended losses on chart-based selling

Resistance for zinc is seen at 77.70 and support is at 75.

Zinc daily stock at Shanghai exchange came down by -14406 tonnes.

WAIT FOR FRESH ENTRY RANGE WILL BE 74-78.MCX