Zinc yesterday we have seen that market has moved 1.66% buoyed by a firming trend at the LME. In addition, better trend at physical markets on pick up in demand from consuming industries also influenced the prices. Market has opened at 99.05 & made a low of 99.05 versus the day high of 101.15. The total volume for the day was at 32145 lots and the open interest was at 5741.Now support for the zinc is seen at 99.5 and below could see a test of 98.2. Resistance is now likely to be seen at 101.6, a move above could see prices testing 102.4.

Trading Ideas:

Zinc trading range is 98.2-102.4.

Zinc settled positive buoyed by a firming trend at the LME.

Resistance for zinc is seen at 101.60 and support is at 99.50.

Yesterday we have seen open interest fell by 816 and volume rose by 8042 lots.