EquityPandit’s Outlook for Zinc for the week  (Feb 05, 2018 – Feb 09, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 2.20%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 222 to 224. If the commodity manages to close above these levels then the commodity can move to the levels of 227 to 229. During the week the commodity manages to hit a high of 230 and close the week around the levels of 226.

Minor support for the commodity lies in the zone of 220 to 222. Support for the commodity lies in the zone of 215 to 217 where the commodity has taken multiple support in the month of January-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of around 210 to 212 where short & medium term moving averages are lying.

Resistance for the commodity lies in the zone of 228 to 230. If the commodity manages to close above these levels then the commodity can move to the levels of 235 to 237.

Broad range for the commodity in the coming week can be seen between 212 – 215 on downside & 235 – 237 on upside.