EquityPandit’s Outlook for Zinc for the week  (Dec 04, 2017 – Dec 08, 2017) :

ZINC:

ZINC closed the week on a positive note gaining around 0.20%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a low of 202 and close the week around the levels of 210.

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 200 – 202 on downside & 220 – 222 on upside.