SELL ZINC BELOW 159.70 TARGET 159.20-158.70-157.70 WITH SL 162.
Zinc on MCX settled down -0.38% at 158.75 tracking weakness from LME zinc which closed down 0.9% at $US2,473 a tonne, extending a drop of 1.5 % in the previous session pressured by a fall in Chinese steel prices and ahead of expected weaker Chinese data.Zinc prices was pressured after China's rebar futures fell more than 3 %on Tuesday in their sharpest single-day drop since early May.
SELL GOLD AUG BELOW 28940 TARGET 28910-28870-28820 WITH SL 29100
Gold on MCX settled down -0.17% at 28944 dropped but little changed in yesterday session unable to take back recent losses ahead of Federal Reserve decision. Technically market is getting support at 28839 and below same could see a test of 28734 level, And resistance is now likely to be seen at 29020, a move above could see prices testing 29096.
Spot gold was up 0.3 % at $1,269.45 per ounce by 0426 GMT. On Tuesday, it touched its weakest since June 2 at $1,259.16.
U.S. gold futures for August delivery rose 0.2 % to $1,271.40 an ounce.
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