AHMEDABAD (Commodity Online): MCX Zinc Jan contract up on fresh buying and dollar weakness, MCX Zinc Jan contract traded positive and settled up at 109.80.In yesterday's trading session MCX Zinc Jan contract has touched the low of 108.3 after opened at 109.95, and finally settled at 109.80.
For today's session MCX Zinc Jan contract is looking to take support at 109.7, a break below could see a test of 108.5 and where as resistance is now likely to be seen at 113, a move above could see prices testing 114.3.
Short term traders may buy MCX Zinc Jan contract near 111 with the stop loss of 108.5 and can wait for the targets of 114.2 and 115.7, said Tarang Parmar, research analyst with CommodityOnline.
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