Zinc ended positive benefited from arbitrage buying from China. Buying momentum remains fragile and any negative cues may trigger sell-off in metals. Zinc yesterday we have seen that market has moved 1.59%. Market has opened at 83.85 & made a low of 83.85 versus the day high of 85.25. The total volume for the day was at 17188 lots and the open interest was at 7067.Now support for the zinc is seen at 84.2 and below could see a test of 83.3. Resistance is now likely to be seen at 85.6, a move above could see prices testing 86.1.

Trading Ideas:

Zinc trading range is 83.3-86.1.

Zinc ended positive benefited from arbitrage buying from China

Resistance for zinc is seen at 86.10 and support is at 84.20.

Zinc daily stock at Shanghai exchange came up by 671 tonnes.