India, Sept. 15 -- Technically Zinc market is under short covering as market has witnessed drop in open interest by 7. 82% to settled at 2393 while prices up 0.1 rupees.
Now MCX Zinc is getting support at 191.5 and below same could see a test of 190.6 levels and resistance is now likely to be seen at 193.1 a move above could see prices testing 193.8.
Zinc yesterday settled up by 0.05% at 192.25 on renewed hopes for a coronavirus vaccine after AstraZeneca resumed its phase-3 trial though sentiment was still cautious ahead of a big week of central bank meetings.
Zinc inventories in China fell over the weekend primarily propelled by losses in Shanghai. Data showed that social inventories of refined zinc ingots across Shanghai Tianjin Guangd...