MCX Zinc Tips by Neal Bhai – Free Zinc Tips for today with target and stop loss, Expert Advice, Free Zinc commodity Intraday Trading tips, zinc tips, today zinc tips.
MCX Zinc Tips Today By Neal Bhai
MCX Zinc 278.15 to 281.40 = Profit Rs. 16250.00
MCX Zinc Trend Today is Up
MCX Zinc Support and Resistance
MCX Zinc Support Level For Today = 275
MCX Zinc Resistance Level For Today = 282
The LME inventory in Asia continued to rise, but the low inventory in eurozone and the US sustained, and the spot supply was also tight. In the spot market, the consumption in Shanghai, Guangdong and Tianjin was sluggish.
Meanwhile, the demand from the downstream galvanising and die-casting alloy sectors also weakened. China’s factory output grew faster than expected in November, supported by stronger energy production and a moderation in sky-high materials costs, but new curbs to fight rising COVID-19 cases hit retailers in the world’s second-largest economy.
The data, along with a slowdown in investment growth, underlines the persistent headwinds facing the economy, which have already prompted policymakers this month to ratchet up support.
Factory production rose 3.8% in November from a year earlier, official data showed, beating expectations for a 3.6% rise and accelerating from a 3.5% increase in October.
China’s central bank partially rolled over maturing medium term loans on Wednesday as it sought to boost liquidity, while market participants expected the central bank to implement more easing measures to help arrest the economic slowdown.
MCX Zinc Short Term Trend
- Zinc trading range for the day is 275—285.
- Zinc gained due to low inventories in Europe after prices dropped earlier as LME inventory has been rising for three days.
- The LME inventory in Asia continued to rise, but the low inventory in eurozone and the US sustained.
- Meanwhile, the demand from the downstream galvanizing and die-casting alloy sectors also weakened.