Zinc yesterday traded with the negative node and settled -1.3% down at 102.6 on fresh selling by speculators tracking weak global trend. Some support had been seen from the LME stock also which came down by -100mt, the total stock at LME is now at 699750mt. In yesterday's trading session zinc has touched the low of 102.35 after opening at 103.7, and finally settled at 102.6. For today's session market is looking to take support at 101.9, a break below could see a test of 101.1 and where as resistance is now likely to be seen at 103.8, a move above could see prices testing 105. Spread between zinc DEC & JAN contracts yesterday ended at 1.2. Spread yesterday traded in the range of 1 - 1.65.

Trading Ideas:

Zinc trading range is 101.1-105.

Zinc yesterday ended down on lower global trend

Zinc looks to take support at 101.50 and resistance at 103.80.

Zinc daily stocks at Shanghai exchange came up by 403 tonnes.