EquityPandit’s Outlook for Zinc for the week (April 15, 2019 – April 19, 2019):
Huge gap on the daily charts is visible on the daily charts, market may tend to fill the gap before heading towards higher levels, Technically on the daily charts we see minor support on the downside for Zinc Mcx Future lies in zone of 220- 222 levels, whereas minor resistance on the upside is capped around 230- 232 levels.
If Zinc Mcx Future breaches minor support on the downside and closes below it we may see fresh break down and Zinc Mcx Future can head towards major support on lower side around 205- 200 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and Zinc Mcx Future can head towards higher levels around 240-245
Currently Zinc Mcx Future is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 240- 245 on upside and 205- 200 on downside.