EquityPandit’s Outlook for Zinc for the week  (Oct 16, 2017 – Oct 19, 2017) :

ZINC:

ZINC (212.15) closed the week on a negative note losing around 0.90%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 210 to 212. Support for the commodity lies in the zone of 204 to 206 where trend-line joining highs of 208 and 204 are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 190 to 192 where break out levels and short term moving averages are lying. During the week the commodity manages to hit a low of 211 and close the week around the levels of 212.

Minor support for the commodity lies in the zone of 210 to 212. Support for the commodity lies in the zone of 204 to 206 where trend-line joining highs of 208 and 204 are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 190 to 192 where break out levels and short term moving averages are lying.

Resistance for the commodity lies in the zone of 218 to 220. If the commodity manages to close above these levels then the commodity can move to the levels of 225 to 227. The commodity is trading at the multi year high so virtually no resistance exists.

Broad range for the commodity in the coming week can be seen between 200 – 202 on downside & 222 – 224 on upside.