Zinc yesterday traded with the negative node and settled -1.45% down at 103.45 on news of Japan's nuclear leakage. Later, Japanese economy and fiscal minister Yosano Kaoru said that the stock turmoil in Japan will ease soon. In this context, LME zinc prices closed with gains at USD 2,308/mt, up USD 52.5/mt, or up 2.33%, below the 5-day moving average. In yesterday's trading session zinc has touched the low of 101.75 after opening at 104.8, and finally settled at 103.45. For today's session market is looking to take support at 101.9, a break below could see a test of 100.3 and where as resistance is now likely to be seen at 104.9, a move above could see prices testing 106.4.

Trading Ideas:

Zinc trading range is 100.3-106.4.

Zinc yesterday traded with the negative node on news of Japan's nuclear leakage

Zinc looks to take support at 101.90 and resistance at 104.90.

Zinc daily stocks at Shanghai exchange came up by 3179 tonnes