TopNews

A surplus in the global zinc market is expected to have a significant impact on western inventory levels soon, putting pressure on prices in the near term. Zinc yesterday we have seen that market has moved -2.02%. Market has opened at 99.5 & made a low of 96.2 versus the day high of 99.95. The total volume for the day was at 32083 lots and the open interest was at 7786.Now support for the zinc is seen at 95.4 and below could see a test of 93.9. Resistance is now likely to be seen at 99.2, a move above could see prices testing 101.4.

Trading Ideas:

Zinc trading range is 93.9-101.4.

Copper ended lower after a slide in Chinese imports reinforced concerns over the country's economy

Crude oil ended lower as euro slumped and the dollar strengthened due to uncertainty about how Ireland's debt bailout would be carried out. A Saudi oil industry official told that oil at $80 per barrel was a good price under current market conditions. China's refined fuel stocks fell in October versus September, dropping for the eighth month in a row, led by diesel as a government energy-saving campaign spurred diesel use and forced oil firms to import diesel for the first time in two years. Now support for the crude is seen at 3681 and below could see a test of 3647. Resistance is now likely to be seen at 3768, a move above could see prices testing 3821.

Silver rose rallying after holdings of metal in the world's largest silver-backed ETF hit another

Gold rose amid unease about Ireland's bailout request, but a stronger dollar capped the gains.

Technical analyst Rahul Mohinder has maintained 'sell' rating on Larsen & Toubro Limited (L&T) stock with an intraday target of Rs 1990.

According to analyst, the investors can sell the stock with a stop loss of Rs 2075.

It is better to sell stock in today's session as there are full chances of decline.

Today, the stock of the company opened at Rs 2031.80 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1395.50 on BSE.