Zinc extended gains, up at two-week high on firm equity markets. Despite the rise, metals are vulnerable to a sell-off as traders are still wary of building-up huge long positions on the fear of any negative cues regarding the Euro zone finances. Zinc yesterday we have seen that market has moved 2.05%. Market has opened at 82.85 & made a low of 82 versus the day high of 84.75. The total volume for the day was at 25236 lots and the open interest was at 6651.Now support for the zinc is seen at 82.8 and below could see a test of 81. Resistance is now likely to be seen at 85.5, a move above could see prices testing 86.5.

Trading Ideas:

Zinc trading range is 81-86.5.
Zinc extended gains and settled at 84.50, up at two-week high
Resistance for zinc is seen at 85.50 and support is at 82.80.
Spread between zinc JUN & JUL contracts yesterday traded in the range of 1 - 1.1.
BUY ZINC JUNE ABV 85 SL 84 TGT 85.80-87.MCX