ankit3000
Long

Hindzinc-Worst seems to be over

NSE:HINDZINC   HINDUSTAN ZINC
170 views
2
Stock is in strong downtrend since last 2 months.
now it seems botommed out, last 15 days its forming higher highs and higher lows.
One can go long at CMP 251 with Stop loss of latest swing low 239 which is also 20 Day SMA .
Once it gains momentum, it will fill the gap till 320.
266,278,290 can be considered as intermediate resistence and partial profit booking points.
Comment: 266 Crossed last week itself, today's price movements shows more power.
Aggressive traders can Trail SL and hold
Comment: Consolidating near 50% Fib Level.
Trail ur SL Below recent swing low 272 and hold
Comment: Sustaining above 78.6% Level 306 Indicates the power in the stock.
Trail ur SL below 306 and hold for final target 320.

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