EquityPandit’s Outlook for Zinc for the week  (Jan 22, 2018 – Jan 25, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 0.60%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 216 to 218 where the commodity has formed a top in the month of October-2017 and November-2017. If the commodity manages to close above these levels then the commodity can move to the levels of 224 to 226. During the week the commodity manages to hit a high of 221 and close the week around the levels of 219.

Minor support for the commodity lies in the zone of 214 to 215. Support for the commodity lies in the zone of 207 to 209 where short & medium term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 200 to 202 where break out levels are lying.

Resistance for the commodity lies in the zone of 220 to 222. If the commodity manages to close above these levels then the commodity can move to the levels of 225 to 227.

Broad range for the commodity in the coming week can be seen between 208 – 210 on downside & 225 – 227 on upside.