zinc intraday

Zinc buy above 80.60
10 July 2008 11:30:42

Zinc yesterday we have seen that market has moved 3.5%. Market has opened at 77.35 & made a low of 77.1 versus the day high of 80.3. The total volume for the day was at 8430 lots and the open interest was at 6449.Now support for the zinc is seen at 77.9 and below could see a test of 75.9. Resistance is now likely to be seen at 81.1, a move above could see prices testing 82.3.

Trading Idea

• TRADING RANGE IS 75.90-83.00.
• BUY ZINC ABV 80.60 SL 79.80 TGT 81.20-81.80-82.40. MCX
• SELL ZINC BELOW 79.00 SL 79.60 TGT 78.55-78.10-77.60. MCX
• A TRADE ABV 80.60 COULD JUMP TILL 82.50 ELSE WEAK

MCXARUN