MCX Zinc January contract opened at 110.95 per kg against previous day’s close of 111.10. It remained choppy during opening session of the day and made intraday high of 111.30, while it was trading at 110.85 a few minutes ago.
Technically, Zinc looks sideways and range of Zinc is from 107-112. Support for Zinc is seen at 108.50 while resistance levels are 112. Zinc prices are likely to rise within next few trading days and could test 115-117 levels only if it gives closing strong above 112.50 within next week . Short term traders can buy MCX Zinc January contract above 112.50 with stop loss of 110 and can wait for the target of 116.