Zinc yesterday traded with the positive node and settled 0.26% up at 110.65 after friday's sell off on mixed economic news which failed to boost LME zinc prices. The US dollar index overnight moved around 81, and LME zinc prices were weighed down by USD 45/mt, and closed at USD 2,420/mt below the 5-day moving average. Trading volumes increased by over 30,000 lots to 95,231 lots, and total positions slightly increased by 300 lots to 238,743 lots. For today's session market is looking to take support at 110.4, a break below could see a test of 110.1 and where as resistance is now likely to be seen at 111.2, a move above could see prices testing 111.8.

Trading Ideas:

Zinc trading range is 110.1-111.8.

Zinc can weight down as mixed economic news failed to boost LME zinc prices.

US dollar index rebounded to 81 which pressurezed the LME zinc prices that came below USD 2,400/mt.

Support for zinc looks at 110 level where as resistance is at 111.80 level

SELL ZINC @ 111-111.40 SL 112.20 TGT 110.20-109.60-108.50.MCX (STBT)

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY 0