MCX Zinc futures yesterday traded with the positive node and settled 2.02% up at 104.2 but intially LME zinc prices slid due to rising US dollar index last Friday, to USD 2,200/mt level. As SHFE market was closed due to the Mid-Autumn Day festival, LME zinc prices further fell below USD 2,200/mt. As China’s investors may buy government bonds of the Europe, the euro rebounded, pushing up LME zinc prices to close at USD 2,213/mt.
Intraday Outlook And Trading Strategy :
MCX Zinc futures is expected to trade in the range of 98-107.
Intraday traders can buy MCX Zinc futures near 102.5 with the stop loss of 101 and can wait for the targets of 105.5 and 107.
Intraday Outlook And Trading Strategy :
MCX Zinc futures is expected to trade in the range of 98-107.
Intraday traders can buy MCX Zinc futures near 102.5 with the stop loss of 101 and can wait for the targets of 105.5 and 107.
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