Why 245- 245 is the polarity reversal level because earlier it was good support & this time it acted as resistance. So, any level which changes role from support to resistance & vice versa is called polarity reversal level & if we talk about zone then it becomes polarity zone.
In Last update as soon as it started moving above 232-233- it moved to 238 first took a halt & then 245 -important level. Target zone of 244-248 was kissed later on moving above 248.
Zinc is taking rest so let it take rest before next explosive move 245- an important mark.
Target Zone could be 259-262. Above 262 - we shall look for 267-268 & above 270 -it can be 278-280.
Previous Update - Zinc you are back again at 230- Click the chart to read previous update
Crossed the trendline & started its up move
You have to always keep in mind previous highs which stopped Hind Zinc as well at 248 @20th June2017 - Day High till 11:25 Hrs of the day.
In earlier updates I have suggested that it can stop at 248-250 levels.
Day High@451.85 close to 452 - Book Partial Profits Here as well & join rally above 452 once crosses or at some pullback.
It has crossed 252 - Moving like a rocket & we are back in the cockpit- what a timing at 252 before it takes off.
Typing error in 14:52 Hrs update above - prices mentioned as 400 + correction all prices are in 200 + Apologies for typing mistake.
Pilot has made tank full
One should book partial profits in the zone 253-254 & continue next long only if crosses 255 -& sustains above that level or we expect a pullback. Can't tell the zone as it is pretty unclear at the moment.
254-255 is sitting on head of the zinc. As expected, zinc did not cross 255 mark & struggled in 254-255 zone to fall at current lows of 252. Pullback started from the desired zone.
Thanks God, We exited here as well at 253-254 if channel supports between 244-245 then look to buy the next - There is big "but-if". Do your own analysis.
Magical Channel Top Kissed at 260 - Target Zone 259-262 is done at day high@260
Reached target of 267-268. Next Set of buying above 270.
The Power Candle Starts
Done & Out
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ