Good demand in spot markets and rise in LME prices helped Zinc prices to trade higher. Zinc yesterday we have seen that market has moved 1.71%. Market has opened at 84.9 & made a low of 84.9 versus the day high of 86.65. The total volume for the day was at 22763 lots and the open interest was at 5612. Now support for the zinc is seen at 85.1 and below could see a test of 84.1. Resistance is now likely to be seen at 86.8, a move above could see prices testing 87.6.

Trading Ideas:

Zinc trading range is 84.1-87.6.

Zinc prices gained on good demand from spot markets

Resistance for zinc is seen at 85.10 and support is at 86.80.

Zinc daily stock at Shanghai exchange came down by -1350 tonnes.

SELL ZINC JULY @ 86 SL 87.20 TGT 85.20-84.60-84.MCX