SEPT 24 WEDNESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 79.40 S2 RS 77.80

R1 RS 82.30 , R2 RS 84

WAIT FOR CONFIRMATION.

Zinc dropped $70 to $1,770, after hitting a one-week high of

$1,850 in earlier trade.

It was knocked down in early trade.

Prices have nearly fallen 60 % from their highs.

Analyst feel from now on the down side may be

limited .The recent output cut announcements

suggest that the prices are near Zinc's marginal

cost of production.

Zinc has support $ 1700 and resistence at $ 1900.

The LME stocks are still high and it has to depend

on the copper rally to inch higher and will find

it difficult to move higher on its own.