Commodity Radar: Initiate short positions on MCX zinc. Religare Broking’s Ajit Mishra explains why

Base metals, including zinc, experienced positive movement on the MCX due to hopes for improved US-China trade relations. However, LME zinc prices later declined, offsetting earlier gains. Technically, zinc prices are consolidating after a sharp decline, with analysts suggesting potential short positions below Rs 248, targeting Rs 234, amid mixed fundamental signals.