Zinc on MCX settled down -0.39% at 128.55 slipped on Tuesday as markets reopened after a long weekend, and as a debt-fuelled pick-up in China's economy encouraged caution over expectations of future demand. 

Technically market is under fresh selling as market has witnessed gain in open interest by 0.59% to settled at 5279 while prices down -0.5 rupee, now Zinc is getting support at 128 and below same could see a test of 127.3 level, And resistance is now likely to be seen at 129.7, a move above could see prices testing 130.7. 

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                Trading Ideas

Zinc trading range for the day is 127.3-130.7.

Zinc prices dropped on profit booking offering a fairly muted reaction to China’s latest PMI data.

Global refined zinc metal production will increase by 0.5% to 13.98 million tonnes in 2016.