Zinc ended positive due to rise in demand in domestic spot markets and strength in entire base metals pack at the London Metal pack on speculation that the Federal Reserve will keep interest rates near zero levels. Zinc yesterday we have seen that market has moved 2.94%. Market has opened at 83.5 & made a low of 83.5 versus the day high of 86.25. The total volume for the day was at 24644 lots and the open interest was at 5531. Now support for the zinc is seen at 84.1 and below could see a test of 82.4. Resistance is now likely to be seen at 86.8, a move above could see prices testing 87.9.

Trading Ideas:

Zinc trading range is 82.4-87.9.

Zinc ended positive due to rise in demand in domestic spot markets

Resistance for zinc is seen at 8680 and support is at 84.10.

Zinc daily stock at Shanghai exchange came down by -2627 tonnes.

SELL ZINC JUNE @ 85.50 SL 86.40 TGT 84.60-83.80-83.20.MCX