EquityPandit’s Outlook for Zinc for the week (March 06, 2017 – March 10, 2017) :

ZINC:

ZINC (185.85) closed the week with a negative note losing around 1.60%.

As we have mentioned last week that support for the commodity lies in the zone of 184 to 186 where the commodity has taken multiple support and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 179 to 181 from where the commodity broke out after consolidation and Fibonacci levels are lying. During the week the commodity manages to hit a low of 184.75 and close the week around the levels of 185.85.

Support for the commodity lies in the zone of 184 to 186 where the commodity has taken multiple support and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 179 to 181 from where the commodity broke out after consolidation and Fibonacci levels are lying.

Minor resistance for the commodity lies in the zone of 190 to 192. Resistance for the commodity lies in the zone of 198 to 200 where trend-line joining highs of 204 & 199 is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 204 to 206 where 52 week highs for the commodity is lying.

Broad range for the commodity in the coming week can be seen between 182 – 184 on downside and 194 – 196 on upside.