Zinc yesterday we have seen that market has moved 0.05% tracking a weak trend in LME prices. However, a better trend in the physical markets on the back of a pick-up in demand from consuming industries limited the losses. Market has opened at 99.25 & made a low of 98.45 versus the day high of 99.9. The total volume for the day was at 20068 lots and the open interest was at 9759.Now support for the zinc is seen at 98.3 and below could see a test of 97.7. Resistance is now likely to be seen at 99.8, a move above could see prices testing 100.6.

Trading Ideas:

Zinc trading range is 97.7-100.6.

Zinc yesterday settled flat tracking a weak trend in LME prices

Zinc looks to take support at 98.3 and resistance at 99.8.

Spread between zinc OCT & NOV contracts yesterday ended at 1.10.