Metals: Base metal futures on the MCX were trading
lower tailing similar cues from benchmark London Metal Exchange
contracts, as market came under pressure following disappointing US
non-farm payrolls data. Bearish comments by European Central Bank's
President Mario Draghi hinting at downside risk to Eurozone economic
recovery also weighed on sentiment.
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Trend updated
for-Apr/08/2013.CMP-103 Overall trend of the Zinc is bearish for
medium-long term .Currently Zinc is in strong downtrend and the
trend is supported with good volume The open interest is not
increasing with trend .. The oscillator is showing BUY signal For
short term Zinc is in HOLD SHORT position.Positionally
Immediate support for Zinc is 100.Resistance for the Zinc is
105-109-110-
Currently Zinc is in HOLD LONG position
Zinc is moving sideways so short term investor better to buy only
above 105.95 with stop at 100.2 The oscillator is showing BUY
signal
Intraday Trend- Buy is advised above 104.8 with a stop at 101.6 Below 100.6 go for sell Intraday Resistance of ZINC are 103.6/104.6/106.2/108.7/111.6/116.7/119.6/125.1/130.7 Intraday Support of ZINC are 101.8/100.8/99.2/96.1/91.5/89/84.3/79.8 |
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