Tuesday, June 19, 2012

Zinc Updates: Commodity MCX Tips


 Investors are optimistic over demand prospects for zinc l after the exit polls showed a victory for the pro-austerity parties in the parliamentary elections in Greece in turn reducing concerns over a possible Greek exit from the euro area.

At the MCX Zinc June futures currently trading at Rs 105.70 up by 0.48 percent.
Zinc futures expected to trade higher in today's session on Greece optimism. Technically on daily charts Zinc looking bullish above Rs 105.50. It have support at Rs 104.50 and Resistance at Rs 106.80.
Intra-day traders advised to buy MCX Zinc June contract around Rs 105.20 with stop loss of Rs 104.50 for target near Rs 106.50, added Jain.

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