MCX ZINC

Sept 11, 2014 Fifth Truncation in Zinc?

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Devidas Rajadhikary
Sr. Research Analyst
devidas.rajadhikary@nirmalbang.com



Harshal Mehta
Sr. Research Analyst
harshal.mehta@nirmalbang.com

























Zinc prices have seen rising since last 3-4 months
And it has rallied as per the EWP. And now it seems that
the prices are likely to witness fifth wave truncation.
MCX ZINC

Sept 11, 2014 Fifth Truncation in Zinc?
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MCX ZINC: The zinc prices have been continuously on a rise since last 3-4 months and have witnessed a
rise as per the EWP, where wave 3 has travelled 261.8% of wave 1 which is extended third wave and wave 2
has travelled 61.8% of wave 1. Wave 4 has retraced 38.2% of wave 3. And now it seems that the zinc prices
couldnt cross the recent top of wave 3 and started falling sharply on a negative note.

If and only if, the fifth wave is truncated then zinc prices will witness sharp fall further till 132-130/Kg


Outlook: We believe that, if the prices continue to breach the immediate support of 137.6 and closes below
the same can lead to sharp fall in prices and test 132-130/Kg, We recommend selling Oct Contract between
139.5 and 140.5 with stop loss of 145.7 on closing basis for the target of 132-130/Kg.


















MCX ZINC

Sept 11, 2014 Fifth Truncation in Zinc?
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RESEARCH TEAM
Name Designation E-mail
Kunal Shah Head Of Research kunal.shah@nirmalbang.com
Devidas Rajadhikary Sr. Research Analyst devidas.rajadhikary@nirmalbang.com
Harshal Mehta Sr. Research Analyst harshal.mehta@nirmalbang.com
Mohammed Azeem Research Analyst mohammed.gaziani@nirmalbang.com
Ankita Parekh Research Analyst ankita.parekh@nirmalbang.com
Somya Dixit Research Analyst somya.dixit@nirmalbang.com
Ravi Dsouza Research Associate ravi.dsouza@nirmalbang.com
Sakina Mandsaurwala Research Associate sakina.mandsaurwala@nirmalbang.com
Ishwar Kelwadkar Research Associate ishwar.kelwadkar@nirmalbang.com
MCX ZINC

Sept 11, 2014 Fifth Truncation in Zinc?
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