EquityPandit’s Outlook for Zinc for the week  (Dec 26, 2017 – Dec 29, 2017) :

ZINC:

ZINC closed the week on a positive note gaining around 2.00%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 202 to 204. 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. During the week the commodity manages to hit a low of 203 and close the week around the levels of 209.

Minor support for the commodity lies in the zone of 205 to 207. Support for the commodity lies in the zone of 200 to 202 where break out levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 196 to 198 where break out levels for the commodity is lying.

Resistance for the commodity lies in the zone of 216 to 218 where the commodity has formed a top in the month of October-2017 and November-2017. If the commodity manages to close above these levels then the commodity can move to the levels of 224 to 226.

Broad range for the commodity in the coming week can be seen between 200 – 202 on downside & 220 – 222 on upside.