Zinc stocks expanded for a sixth week, adding 5,027 tons to a record 321,093 tons, based on a survey of warehouses in Shanghai. Zinc yesterday traded with the positive node and settled 0.27% up at 111.85. Some support had been seen from the LME stock also which came down by -100mt, the total stock at LME is now at 709725mt. In yesterday's trading session zinc has touched the low of 111.6 after opening at 111.65, and finally settled at 111.85. For today's session market is looking to take support at 111.7, a break below could see a test of 111.5 and where as resistance is now likely to be seen at 112, a move above could see prices testing 112.2.

Trading Ideas:

Zinc trading range is 111.5-112.2.

Zinc yesterday traded with the positive node and settled 0.27% up

Zinc looks to take resistance at 113 and support is at 110.60 level.

Zinc weekly stocks at Shanghai exchange came up by 5027 tonnes