Zinc yesterday we have seen that market has moved -4.16% tracking weak trend in base metals at the London Metal Exchange and profit booking. Market has opened at 114.8 & made a low of 110.45 versus the day high of 114.8. The total volume for the day was at 39404 lots and the open interest was at 4305.Now support for the zinc is seen at 109.1 and below could see a test of 107.6. Resistance is now likely to be seen at 113.5, a move above could see prices testing 116.3.

Trading Ideas:

Zinc trading range is 107.6-116.3.

Zinc yesterday moved -4.16% due to profit booking

Zinc looks to take support at 109.10 and resistance at 111.80.

Zinc daily stocks at Shanghai exchange came up by 5507 tonnes.