Zinc on MCX settled up 0.63% at 152.55 tracking firmness from LME three-month zinc which was closed up 0.6 % at $US2,280 a tonne and it is up nearly 60 % from January lows on concern about market deficits created by mine closures. Yesterday prices hold its gains as equities rose after the latest monthly U.S. jobs data helped buoy sentiment, but worries about demand in top consumer China kept prices below $2300 mark on LME.Visit Us www.ripplesadvisoryx.com/freetrial.php or Get Free Trials Just Give One Missed Call @98-27-80-80-90. 

 Technically market is under fresh buying as market has witnessed gain in open interest by 6.97% to settled at 13773 while prices up 0.95 rupee, now Zinc is getting support at 151.9 and below same could see a test of 151.3 level, And resistance is now likely to be seen at 153, a move above could see prices testing 153.5.  

                        Trading Ideas

1. Zinc trading range for the day is 151.3-153.5.     

2. Zinc continious to outperform settled up at 152.55 on concern about market deficits created by mine closures

3. China's trade data was worse than expected on both imports and exports while copper imports were very disappointing.               

4. China's imports fell 12.5 % from a year earlier in July and exports fell 4.4 %, pointing to further economic weakness.