Zinc May Witness Selling Recommended At Higher Levels
CommodityOnline | May 09, 2014 02:50AM ET
Three month forward LME zinc prices traded steady and ended at $2038 u by $8 from its previous close. We believe the commodity has been sluggish in the recent past as the fundamental front there has been no major development. At the domestic front also, we see prices trading steady and the May future ended at Rs. 122.25 up by Rs. 0.30 from its previous close. We believe the commodity may remain sideways for the day. This morning at LME, Zinc is seen trading at $2030 down by $8 from its previous close. For the day we are suggesting a sell view from higher levels.
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