India, Sept. 14 -- Technically Zinc market is under fresh buying as market has witnessed gain in open interest by 16. 67% to settled at 2596 while prices up 4.75 rupees.
Now MCX Zinc is getting support at 188.4 and below same could see a test of 184.7 levels and resistance is now likely to be seen at 194.1 a move above could see prices testing 196.1.
Zinc yesterday settled up by 2.53% at 192.15 as support seen as downstream purchase improved at low prices and social inventories fell by 19600 mt.
The offer prices of imported ore have gradually declined and the weak demand of winter stocks and the weak supply of ore in Q4 have also boosted market sentiment.Zinc inventories in China fell sharply primarily propelled by downstream restocking ...