EquityPandit’s Outlook for Zinc for the week  (Sep 25, 2017 – Sep 29, 2017) :

ZINC:

ZINC (201) closed the week on a positive note gaining around 3.10%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 195 to 197 from where the commodity has broken down from the consolidation. If the commodity manages to close above these levels then the commodity can move to the levels of 204 to 206 where trend-line joining highs of 208 and 204 are lying. During the week the commodity manages to hit a high of 203 and close the week around the levels of 201.

Minor support for the commodity lies in the zone of 196 to 198. Support for the commodity lies in the zone of 190 to 192 where break out levels 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 around 183 to 185 where trend-line support for the commodity is lying.

Resistance 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 above these levels then the commodity can move to the levels of 210 to 212.

Broad range for the commodity in the coming week can be seen between 190 – 192 on downside & 210 – 212 on upside.