EquityPandit’s Outlook for Zinc for the week  (Feb 19, 2018 – Feb 23, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 5.30%.

As we have mentioned last week, that minor resistance for the commodity lies in the zone of 221 to 223. Resistance for the commodity lies in the zone of 228 to 230 where the commodity has formed a top in the month of January-2018. If the commodity manages to close above these levels then the commodity can move to the levels of 235 to 237. During the week the commodity manages to hit a high of 231 and close the week around the levels of 230.

Minor support for the commodity lies in the zone of 222 to 225. 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 from where the commodity broke out of December-2017 high.

Resistance for the commodity lies in the zone of 228 to 230 where the commodity has formed a top in the month of January-2018. 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 & 240 – 245 on upside.