India, April 16 -- Technically Zinc market is under fresh buying as market has witnessed gain in open interest by 2. 26% to settled at 1764 while prices up 1.95 rupees.
Now MCX Zinc is getting support at 227.6 and below same could see a test of 225.5 levels and resistance is now likely to be seen at 230.9 a move above could see prices testing 232.1.
Zinc yesterday settled up by 0.86% at 229.7 as dollar sank to a new four-week low as Treasury yields pulled back from last month s surge with investors increasingly convinced by the Federal Reserve s arguments that interest rates will stay low for some time.
Chinese zinc smelters produced 426000 tonnes of zinc in March up 7% year-on-year but down 9.8% month-on-month on a daily basis as energy...