Zinc yesterday traded with the positive node and settled 0.05% up at 108.8 tracking firm trend in zinc prices at the LME. Some pressure had been seen from the LME stock also which came up by 4225mt, the total stock at LME is now at 632225mt. In yesterday's trading session zinc has touched the low of 108.15 after opening at 109.25, and finally settled at 108.8. For today's session market is looking to take support at 108, a break below could see a test of 107.3 and where as resistance is now likely to be seen at 109.7, a move above could see prices testing 110.6. Spread between zinc NOV & DEC contracts yesterday ended at 1.05. Spread yesterday traded in the range of 1 - 1.15.

Trading Ideas:

Zinc trading range is 107.3-110.6.

Zinc yesterday ended with the positive node tracking firm trend at LME

Zinc looks to take support at 108 and resistance at 109.70.

Zinc daily stocks at Shanghai exchange came up by 1923 tonnes.