Zinc prices gained as speculators created positions, driven by rising demand in spot market. Zinc yesterday we have seen that market has moved 1.26%. Market has opened at 95.7 & made a low of 95.35 versus the day high of 96.9. The total volume for the day was at 24222 lots and the open interest was at 6169. Now support for the zinc is seen at 95.5 and below could see a test of 94.7. Resistance is now likely to be seen at 97.1, a move above could see prices testing 97.8.

Trading Ideas:

Zinc trading range is 94.7-97.8.

Zinc prices gained driven by rising demand in spot market

Resistance for zinc is seen at 95.50 and support is at 97.10.

Zinc daily stock at Shanghai exchange came up by 7003 tonnes.

BUY ZINC AUG @ 95.25 SL 94.70 TGT 95.80-96.40-97.MCX