Zinc yesterday traded with the positive node and settled 2.57% up at 106.95 as market reopened after the Christmas holiday. The US dollar index overnight opened low and moved lower, with the index dipping to 79.7. LME zinc prices overnight tracked SHFE zinc prices during the holiday, with prices breaking the 60-day moving average and finally closing at USD 2,398/mt, up USD 100.8/mt. But the transaction was still weak. In yesterday's trading session zinc has touched the low of 104.35 after opening at 104.35, and finally settled at 106.95. For today's session market is looking to take support at 105.2, a break below could see a test of 103.4 and where as resistance is now likely to be seen at 107.9, a move above could see prices testing 108.9.

Trading Ideas:

Zinc trading range is 102.8-104.9.

Zinc settled up on fresh buying as market reopened after the Christmas holiday

US dollar index overnight opened low and moved lower, with the index dipping to 79.7

Zinc looks to take support at 105.20 and resistance at 107.9.

BUY ZINC DEC @ 106 SL 105 TGT 106.80-107.40-108.MCX

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY -200