EquityPandit’s Outlook for Zinc for the week  ( Jan 08, 2018 – Jan 12, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 1.10%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 215 and close the week around the levels of 214.

Minor support for the commodity lies in the zone of 210 to 212. Support for the commodity lies in the zone of 205 to 207 where short & medium term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 200 to 202 where break out levels are 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.