Performer Of The Week

Zinc

zinc

Zinc has been well supported on the downside with prices trying to break twice during the week but failed to rise above last week’s high which technically is a weak sign .It was flat during the week with prices failing to cross the 2850 mark. News reports suggest an increase in production for the material in China but strong environmental checking and expected closures or reduction in production due to the checks will negate the increase in production in the short term. Prices still remain buy at dips till 2598 is not taken out which is the medium term trend line for the bulls and taking out that level will not bode well for the counter. Fundamentals, Inventory and sentiments remain strong and price may well see a strong bid going into the year end !

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