Zinc yesterday traded with the positive node and settled 0.69% up at 86.95. Some support had been seen from the LME stock also which came down by -875mt, the total stock at LME is now at 564875mt. In yesterday's trading session zinc has touched the low of 85.15 after opening at 87, and finally settled at 86.95. For today's session market is looking to take support at 85.4, a break below could see a test of 83.8 and where as resistance is now likely to be seen at 88.3, a move above could see prices testing 89.7. Spread between zinc MAY & JUN contracts yesterday ended at 1.10, we have seen yesterday that the zinc market had traded with a positive node and settled 0.69% up. Spread yesterday traded in the range of 1.1 - 1.4.

Trading Ideas:

Trading Ideas:

Zinc trading range is 83.8-89.7.

Zinc yesterday ended higher getting support is from LME stock

Resistance for zinc is seen at 87.60 and support is at 84.30.

Zinc daily stock at Shanghai exchange came down by -1298 tonnes.

BUY ZINC MAY @ 87 SL 86 TGT 88-89.20.MCX