Zinc extends gains at two-week high tracking demand pick up hopes. Metals are rallying on concerns supply may not keep up with demand after the worst is expected to be over for the global economy. Zinc yesterday we have seen that market has moved 0.19%. Market has opened at 105.05 & made a low of 104.65 versus the day high of 106.85. The total volume for the day was at 20750 lots and the open interest was at 3586.Now support for the zinc is seen at 104.8 and below could see a test of 103.6. Resistance is now likely to be seen at 107, a move above could see prices testing 108.

Trading Ideas:

Zinc trading range is 103.6-108.

Zinc extends gains at two-week high tracking demand pick up hopes

Support for the zinc is at 104.80 and resistance is at 107

Zinc daily stock at Shanghai exchange came up by 2371 tons.

BUY ZINC APR @ 105.50-106 SL BELOW 104.70 TGT 106.60-107.20-108.MCX