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Zinc (MCX-Feb'11): We mentioned that profit booking can not ruled out but at every lower side buyers may enter for a fresh rally till 118-120.
Zinc (MCX-Feb'11): We mentioned that profit booking can not ruled out but at every lower side buyers may enter for a fresh rally till 118-120. Lower side it may fall till 109.30.
Here zinc 113.00 trend decider level this level above bullish trend in this counter and up side touch at 116.50 level and sell position entry of zinc at 112.00 level below confirm down trend in this counter and low side touch zinc at 110.00 . Similarly the top losers at MCX future are Zinc for February contract (-1.15%), Zinc Mini for February contract (-1.11%), Zinc Mini for March contract (-1.05%), Zinc for March contract (-1.01%) and Zinc Mini for April contract (-1.00%). (At 11:10 A.M today).
For zinc also 106.00 level in coming trading days long term trader only 112.00 below sell position entry and hold at position and cover at lower levels also gain big profit.
Taking negative cues from global markets, Zinc is trading lower in future trade today. At MCX future, Zinc for February contract is trading at Rs 111.70, down by 1.06%, Zinc for March contract is trading at Rs 112.65, down by 1.01% and Zinc for April contract is trading at Rs 114.00, down by 0.65%. (At 11:17 A.M today). At LME, Zinc was the biggest loser, moved down by about 1.7% in London, while its Shanghai counterpart fell by 0.3%. At LME, Zinc traded at US$ 2469.00 (at 0224 GMT).
On 8th February 2011 (Tuesday), the domestic commodity markets were closed with a mixed trend. At MCX future, 3 out of 4 indexes closed with an upward trend. In the MCX future, MCXCOMDEX closed at 3,328.38 after opening at 3,327.81, MCXMETAL closed at 4,258.62 after opening at 4,257.13 and MCXAGRI closed at 2,932.42 after opening at 2,931.43 while MCXENERGY closed at 2,928.96 after opening at 2,921.47.
Currently commodities markets in India are trading with a mixed trend. At MCX future, 3 out of 4 indexes are showing an upward trend. At MCX futures, MCXCOMDEX is trading at 3,342.57, up by 0.41%, MCXENERGY is trading at 2,909.34, up by 0.54%, MCXAGRI is currently trading at 2,974.27, up by 1.39% while MCXMETAL is trading at 4,294.40, down by 0.00% (remains unchanged) (At 05:14 P.M today)