DEC 2 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 59.10 , S2 RS 57.70 , S3 RS 56.20

R1 RS 61.60 , R2 RS 63 , R3 RS 65

STAY SHORT AT RESISTENCE.

Zinc declined $30 to $1,180 a ton.

Base metals have declined sharply on the back of

financial uncertainity across the globe.

The US dollar has also affected prices and have continued

to play a critical role in determining base metal prices.

Immediete support is seen at Rs 59.50 in the MCX December

contract and crucial suport is seen at Rs 58.10 levels.

Short term resisence is seen at Rs 61.50 whereas major

resistence is seen at Rs 63.55.

Zinc production is forecasted to increase by 3.9 % this year.

Current prices stay below $ 1200 level but if supplies

and stocks gain the prices may lose further but in a slower

pace.