EquityPandit’s Outlook for Zinc for the week  (Nov 13, 2017 – Nov 17, 2017) :

ZINC:

ZINC closed the week on a positive note gaining around 1.70%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 206 to 207. 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. During the week the commodity manages to hit a low of 206 and close the week around the levels of 212.

Minor support for the commodity lies in the zone of 208 to 210. Support for the commodity lies in the zone of 202 to 204 where break out levels for the commodity is 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 214 to 216. If the commodity manages to close above these levels then the commodity can move to the levels of 218 to 220 where the commodity has formed a top in the month of October-2017.

Broad range for the commodity in the coming week can be seen between 202 – 204 on downside & 220 – 222 on upside.