MCX Zinc March contract yesterday traded with the positive node and settled 1.04% up at 105.55 after data released, US CCI for March was 63.4, lower than February's 72. The lower-than-forecast CCI has eased concerns over the US Federal Reserve (Fed)'s tightening monetary policies.
In yesterday's trading session Zinc futures has touched the low of 103.35 after opened at 104.65, and finally settled at 105.55. For today's session market is looking to take support at 104, a break below could see a test of 102.5 and where as resistance is now likely to be seen at 106.5, a move above could see prices testing 107.4.
Intraday traders can buy MCX Zinc March contract 105 with the stop loss of 103.8 and can wait for the targets of 106.3 and 107.
To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com
http://www.commodityonline.com/marketmovers/Zinc-futures-likely-to-surge-on-buying-sentiments-2011-03-30-3319-3-1.html
In yesterday's trading session Zinc futures has touched the low of 103.35 after opened at 104.65, and finally settled at 105.55. For today's session market is looking to take support at 104, a break below could see a test of 102.5 and where as resistance is now likely to be seen at 106.5, a move above could see prices testing 107.4.
Intraday traders can buy MCX Zinc March contract 105 with the stop loss of 103.8 and can wait for the targets of 106.3 and 107.
To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com
http://www.commodityonline.com/marketmovers/Zinc-futures-likely-to-surge-on-buying-sentiments-2011-03-30-3319-3-1.html
