EquityPandit’s Outlook for Zinc for the week  (Jan 29, 2018 – Feb 02, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 1.20%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 220 to 222. If the commodity manages to close above these levels then the commodity can move to the levels of 225 to 227. During the week the commodity manages to hit a high of 222.40 and close the week around the levels of 221.60

Minor support for the commodity lies in the zone of 217 to 219. Support for the commodity lies in the zone of 207 to 209 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 222 to 224. If the commodity manages to close above these levels then the commodity can move to the levels of 227 to 229.

Broad range for the commodity in the coming week can be seen between 210 – 212 on downside & 227 – 229 on upside.