Hindustanzinc
Nice weekly breakout#Hindzinc
****THIS TRADE IS AN IDEA GIVEN TO ME BY MY MENTOR KRISHNAKUMAR****
Gave nice breakout on daily and weekly charts today.
Although this weeks chart is not completed yet, but taking risky entry utilizing partial funds as it has given breakout on daily charts after 3 years.
Will add more if it dips to retest breakout.
Also, it is forming nice channel pattern.
///Kindly trade as per your own analysis. ///
Hindustan ZincHIND ZINC (NSE CASH)
CHART ANALYSIS
LTP: 309.85
SUPPORT: 305.25 (309.01 ACCORDING TO 20 DEMA)
RESISTANCE: 321.90 / 329.30
RISK TO REWARD RATIO IS APT
RSI IN DAILY CHART IS IN A STRONG UPTREND AND IS ABOVE THE 50 MARK IN OTHER PERIODICALS
329.30 LOOKS LIKE A BREAKOUT LEVEL WHICH MEANS THAT THE CHARTS WILL MAKE NEW HIGH ONCE IT CROSSES AND TRADES ABOVE 330
CHART IS IN AN UPTREND (15M) SINCE 6th MAY AND LOOKS LIKE THE UPTREND WILL CONTINUE
OI NA AS THIS SCRIPT IS NOT PRESENT IN NFO
MARKET CAP: 1.253T (ABOVE 200B / VERY GOOD)
VOL: 7.838M (ABOVE 500K / VERY GOOD)
REL VOL: 2.16 (ABOVE 2 / VERY GOOD)
AVG VOL: 2.153M (ABOVE 100K / VERY GOOD)
FLOAT: 222.945M (BELOW 2B / VERY GOOD)
***BUY FOR MEDIUM TERM TARGETS OF 329+ AND CAN ALSO BE A LONG TERM PART OF YOUR PORTFOLIO
A clear Breakout in Zinc SectorChart clearly shows that a clean Breakout is bound to happen in the coming days with Resistance got tested several times and has got weaken in the same process. Volume too supporting the trend. RSI is at 62 levels so there is a good chance that this breakout will gonna give a good profit opportunity.
One should never predict the market rather witness!Here I try to predict even if it's never suggested to!
Chart of NSE:HINDZINC and what I think it might do.
Beware of predictions, those get kicked out of market. Only thing that keeps you going is when you 'Go with the Flow'.
Let the market do what it's doing and observe rather than you telling it what to do by your predictions.
So, how do we win trades?
Study the instrument you are going to Trade/Invest in. Its not about what opportunities you missed but what capital you saved by not running for every single trade half-assed.
In here I might have tried to predict way too much in advance and I am liable to be wrong by doing so!
This Idea for Hindustan Zinc is what I see it doing and I wish to know if Hindustan Zinc and my vision of Hindustan Zinc comes close.
By means of being wrong in situations, We learn. In fact, we learn far more by being wrong than being right.
Hindustan Zinc Analysis (NSE: HINDZINC)Let's talk about the short - term view. A trend line is observed on the monthly chart, and when we observe the same on a daily chart, we can see a pattern that closely resembles "Inverted Head and Shoulder," which signifies a bull run in coming days. All we have to do is to wait for the candles to break the neckline, and we're good to go.
HINDUSTAN ZINC - Parallel channel pattern at monthly time frameHINDUSTAN ZINC - Parallel channel pattern formation at monthly time frame
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.