EquityPandit’s Outlook for Zinc for the week  (Oct 23, 2017 – Oct 27, 2017) :

ZINC:

ZINC closed the week on a negative note losing around 3.50%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 210 to 212. Support for the commodity lies in the zone of 204 to 206 where trend-line joining highs of 208 and 204 are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 190 to 192 where break out levels and short term moving averages are lying. During the week the commodity manages to hit a low of 199 and close the week around the levels of 205.

Support for the commodity lies in the zone of 202 to 204 where trend-line joining highs of 208 and 204 is lying and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 190 to 192 where break out levels and medium term moving averages are lying.

Resistance for the commodity lies in the zone of 207 to 209. If the commodity manages to close above these levels then the commodity can move to the levels of 217 to 219 where the commodity has formed a short term top.

Broad range for the commodity in the coming week can be seen between 190 – 192 on downside & 214 – 216 on upside.