Zinc yesterday traded with the negative node and settled -0.67% down at 103.95 due to profit booking and also some pressure had been seen from the LME stock also which came up by 43475mt, the total stock at LME is now at 699850mt. In yesterday's trading session zinc has touched the low of 103.45 after opening at 105.05, and finally settled at 103.95. For today's session market is looking to take support at 103, a break below could see a test of 102 and where as resistance is now likely to be seen at 105.4, a move above could see prices testing 106.8. Spread between zinc DEC & JAN contracts yesterday ended at 1.2. Spread yesterday traded in the range of 1 - 1.25.

Trading Ideas:

Zinc trading range is 102-106.8.

Zinc ended down due to profit booking weighed by rise in LME stocks

Zinc looks to take support at 103 and resistance at 105.40.

Zinc daily stocks at Shanghai exchange came up by 678 tonnes.