Moneycontrol
Nov 30, 2016 05:48 PM IST | Source: Moneycontrol.com

Zinc to trade in 176.3-201.5 range: Achiievers Equities

According to Achiievers Equities, Zinc dropped on profit booking as prices struggled to maintain gains in the face a drop in oil prices, which tempered appetite for assets seen as higher risk.



Achiievers Equities report on Zinc


Zinc


Zinc trading range for the day is 176.3-201.5.


Zinc dropped on profit booking as prices struggled to maintain gains in the face a drop in oil prices, which tempered appetite for assets seen as higher risk.


Nyrstar is increasing hedge selling for expected zinc output to evade downward pressure for zinc prices.


China’s refined zinc supply peaked at 5.53 million tonnes in 2015 after years of expansion.


SELL ZINC NOV BELOW 185.20 SL ABV 186.80 TGT 183.80-182.50. MCX.

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