Zinc yesterday we have seen that market has moved 1.51% in tandem with firming trend in base metals at overseas markets and weak dollar raised appeal for the raw material as an alternative investment. Market has opened at 97.75 & made a low of 97.1 versus the day high of 99.4. The total volume for the day was at 24103 lots and the open interest was at 6557.Now support for the zinc is seen at 97.7 and below could see a test of 96.2. Resistance is now likely to be seen at 100, a move above could see prices testing 100.8.

Trading Ideas:

Zinc trading range is 96.2-100.8.

Zinc rose on firming trend in base metals at overseas markets

Resistance for zinc is seen at 100 and support is at 97.70.

Yesterday we have seen open interest fell by 769 and volume by 1248 lots.