Zinc ended higher as speculators covered up their short positions in view of monthly expiry. Better trend at the LME after previous session's losses also helped zinc prices to trade higher. Zinc yesterday we have seen that market has moved 1.14%. Market has opened at 82.35 & made a low of 80.55 versus the day high of 83.5. The total volume for the day was at 21958 lots and the open interest was at 7165.Now support for the zinc is seen at 81.2 and below could see a test of 79.4. Resistance is now likely to be seen at 84.2, a move above could see prices testing 85.3.

Trading Ideas:

Zinc trading range is 79.4-85.3.

Zinc ended higher as speculators covered up their short positions

Resistance for zinc is seen at 84.20 and support is at 81.20.

Zinc daily stock at Shanghai exchange came down by -972 tonnes.

SELL ZINC JULY BELOW 82.80 SL 84 TGT 82.10-81.50-80.80.MCX