Zinc yesterday traded with the positive node and settled 0.73% up at 102.9. Some support had been seen from the LME stock also which came down by -175mt, the total stock at LME is now at 541200mt. In yesterday's trading session zinc has touched the low of 100 after opening at 101.9, and finally settled at 102.9. For today's session market is looking to take support at 100.7, a break below could see a test of 98.4 and where as resistance is now likely to be seen at 104.5, a move above could see prices testing 106.1. Spread between zinc MAR & APR contacts yesterday ended at 0.6, we have seen yesterday that the zinc market had traded with a positive node and settled 0.73% up. Spread yesterday traded in the range of 0.05 - 0.70.

Trading Ideas:

Zinc trading range is 98.4-106.1.

Zinc also rose along with other metals and looking firm above 100 mark

Support for the zinc is at 101.60 and resistance is at 104.50.

Zinc daily stock at Shanghai exchange came down by -175 tonnes.

SELL ZINC MAR BELOW 102 SL 102.90 TGT 101.20-100.40-99.20.MCX