Jyotika

HINDZINC TREND

NSE:HINDZINC   HINDUSTAN ZINC
It has been in a downtrend from 2 years, so we can see V shaped recovery.
WHY IT SEEMS BULLISH -
1. A small flag formation an be formed in daily charts , it has crossed an important level of 205 and now the stock will find resistance at either the trendline or another important level of 230. For now the stock can see some accumulation/retracement moves.
2. Also the stock has just crossed 200 day MA and constantly taking support of 50 day MA.
3. Keep your eyes in this stock as if it cross 230, this stock will be very bullish and can be brought for long term, because there has been a volume divergence too

Comments

do you think that it will go beyond 250?
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I SAW A MORNING STAR PATTERN TODAY, DO YOU THINK IT'LL CONTRIBUTE FOR A BO
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@T27_, Also volume is good, it could break the old resistance line but wait for 230-235 price range as this breakout could possibly be a whipsaw.
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T27_ Jyotika
@Jyotika, yay well predicted, its the leading gainer in my watchlist
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