Zinc weekly-remain sell for targets 177 and 172

Mcx zinc outlook for next week 12 to 16 Dec. 2016

Mcx zinc outlook for next week 12 to 16 Dec. 2016

Mcx zinc future this week closed at 182.2 with loss. For zinc prices this was second weak weekly closing. In these 2 weeks prices are retraced from highs of 204 to lows of 180 rupees.   Mcx zinc now entered into bearish trend and below 184 remain weak and sell on rise. For next week, below 185.5 my outlook remain weak and expecting targets of 177 and then 172 rupees.   For month of December, below 814 on weekly closing basis, mcx zinc will remain weak and sell on rallies. On downside 163 rupee is my first swing short target and below 163 next target will be 140 rupee.

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Pramod Baviskar

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