NOV 3 MONDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 56.30 , S2 RS 54.80

R1 RS 59.20 , R2 RS 61

Zinc heavily dependent on the construction sector

currently in slump ended the week 3.5 % lower.

Acording to experts base metals have beenn targetted for

short selling recently leading to violent short covering

rallies but higher prices of recent days are unlikely to be

susteined for long.

Zinc is currently trading below marginal costs.

In the short run demand compression may prove

too powerful to counter supply cuts.