Zinc yesterday traded with the positive node and settled 1.56% up at 97.75 tracking higher LME prices. Some support had been seen from the LME stock also which came down by -325mt, the total stock at LME is now at 631825mt. In yesterday's trading session zinc has touched the low of 95.85 after opening at 95.85, and finally settled at 97.75. For today's session market is looking to take support at 96.2, a break below could see a test of 94.6 and where as resistance is now likely to be seen at 99, a move above could see prices testing 100.2. Spread between zinc DEC & JAN contracts yesterday ended at 1.15. Spread yesterday traded in the range of 1 - 1.3.

Trading Ideas:

Zinc trading range is 94.6-100.2.

Zinc yesterday ended positive tracking higher LME prices

Zinc looks to take support at 96.20 and resistance at 99.

Zinc daily stocks at Shanghai exchange came down by 1148 tonnes.