EquityPandit’s Outlook for Zinc for the week  (Dec 11, 2017 – Dec 15, 2017) :

ZINC:

ZINC closed the week on a negative note losing around 5.10%.

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 198 and close the week around the levels of 199.

Support for the commodity lies in the zone of 196 to 198 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 188 to 190 where long term moving averages are lying.

Resistance for the commodity lies in the zone of 202 to 204 where medium term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 208 to 210 where short term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 188 – 190 on downside & 208 – 210 on upside.