EquityPandit’s Outlook for Zinc for the week  (Feb 12, 2018 – Feb 16, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 3.60%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 220 to 222. 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 where short & medium term moving averages are lying. During the week the commodity manages to hit a low of 216 and close the week around the levels of 218.

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 where short & medium term moving averages are lying.

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.

Broad range for the commodity in the coming week can be seen between 210 – 212 on downside & 228 – 230 on upside.