MTECHTIPS;-Zinc to trade in 168.5-177.5 range: Achievers Equities

MTECHTIPS;-Zinc to trade in 168.5-177.5 range: Achievers Equities

MTECHTIPS- Zinc trading range for the day is 168.5-177.5. Zinc settled up reversing the previous day’s losses after speculators signaled an end to widespread profit taking spurred by recent meteoric run-ups. China’s zinc smelters are accepting record low fees to produce metal amid a shortage of ore, while winter mine closures are likely to force plants to cut output. Technically market is under short covering as market has witnessed drop in open interest by -1.86% to settle at 4540. SELL ZINC DEC @ 174.50 SL 175.80 TGT 172.80-171.MCX

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