What is Zinc? Zinc is a base metal which occupies position number 30 on the periodic table. It is bluish-white lustrous metal and is relatively softer. Its chemical symbol is Zn. Zinc is not an abundant metal in the nature. It is malleable and ductile and is conductor of heat and electricity. In the industry it is widely used in alloys. See below Zinc price, chart and technical analysis.
Zinc Price Support And Resistance
Zinc Futures Daily Candlestick Chart
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Zinc has both organic and inorganic usage. Organically it helps in proper simulation of the Vitamins in the human body and hence it is widely used in medicines also. In the industry Zinc is used to manufacture dry cell batteries. As a commodity it is traded in MCX exchange. In MCX both Zinc and Zinc Mini is traded widely.
Zinc has a lot size of 5000 (5 MT) and Zinc Mini has a lot size of 1000 (1 MT) in MCX exchange. Zerodha requires a margin of around Rs. 65000 for Zinc in NRML and Rs 33000 in MIS. They requires a margin of around Rs. 14000 for Zinc Mini in MIS and Rs. 7000 in NRML.
Intraday traders trade Zinc for a 50 paisa to 1 rupee price movement. They trades using scalping technique with very small targets and smaller stop loss. For every 1 rupee movement in Zinc price traders gain or lose Rs. 5000 and in Zinc Mini they gain OR lose Rs. 1000. Due to tha habbit of booking small targets traders are always advised to used a smaller stop loss to maintain a healthy risk reward ratio. Like other commodities we advise to keep a 1:2 risk reward ratio, i.e. if you are trading for 1 point target must keep not more than 50 paisa stop loss.