EquityPandit’s Outlook for Zinc for the week (March 27, 2017 – March 31, 2017) :

ZINC:

ZINC (184.35) closed the week on a negative note losing around 2.15%..

As we have mentioned last week that minor support for the commodity lies in the zone of 186 to 187. Support for the commodity lies in the zone of 183 to 184 from where the commodity broke out. If the commodity manages to close below these levels then the commodity can drift to the levels of 179 to 181 from where the commodity broke out after consolidation and Fibonacci levels are lying. During the week the commodity manages to hit a low of 182 and close the week around the levels of 184.35.

Support for the commodity lies in the zone of 183 to 184 from where the commodity broke out. If the commodity manages to close below these levels then the commodity can drift to the levels of 179 to 181 from where the commodity broke out after consolidation and Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 187 to 188. Resistance for the commodity lies in the zone of 194 to 196 where trend-line joining earlier highs is lying. If the commodity manages to close above these levels then the commodity can move to the levels of around 200 to 202 where top formed in the month of November-2016 is lying.

Broad range for the commodity in the coming week can be seen between 175 – 177 on downside & 192 – 194 on upside.