NOV 17 MONDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 56.80 , S2 RS 55.30

R1 RS 61 , R2 RS 63

Zinc dropped $15 to $1,190 a ton.

Demand deterioration following lowering of

global growth expectations remain the central

theme of the base metal complex.

Prices have declined to multi year lows .

Inventory of copper , nickel and zinc are rising.

Immediete support is seen at RS 57.20 for MCX

Nov contract whereas crucial support is seen at

Rs 55.80.

Zinc is expected to trade sideways for the day.

Short term resistence is seen at Rs 60.80

and major resistence is seen at Rs 62.10.