EquityPandit’s Outlook for Zinc for the week  (April 10, 2017 – April 14, 2017) :

ZINC:

ZINC (171.95) closed the week on a negative note losing around 4.70%..

As we have mentioned last week that support for the commodity lies in the zone of 176 to 178 from where the commodity broke out after consolidation and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 168 to 170 where 200 Daily SMA is lying. During the week the commodity manages to hit a low of 171 and close the week around the levels of 172.

Support for the commodity lies in the zone of 168 to 170 where 200 Daily MA is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 164 to 166 where Fibonacci level and low for the month of December-2016 is lying.

Minor resistance for the commodity lies in the zone of 175 to 176. Resistance for the commodity lies in the zone of 179 to 180 where Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 184 to 186 where short & medium term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 163 – 165 on downside & 178 – 180 on upside.