According to Sharekhan, one can expect a further fall of Rs 3 to Rs 4 in MCX Zinc prices.
As one can see from the adjacent chart, MCX zinc is trading near its crucial support level of Rs 138. On a decisive break-down of the said level one can expect a further fall of Rs 3 to Rs 4. If it takes support at the said level, on the upside one can expect a 50% retrenchment (from a high of Rs 145 to Rs 138), which comes to Rs 141.50 levels. The other technical observations are: the Relative Strength Index is valued at 33, the Momentum is valued at (1.1) and the Moving Average Convergence Divergence is valued at (1.24).
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MCX Zinc may fall further by Rs 3-4: Sharekhan
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