HINDZINC positive RSI divergenceHINDZINC price action shows positive RSI divergence one can buy at the support 239/243 for the target 260/285 stop loss below 230.
HINDZINC
Hindzinc-Worst seems to be overStock 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.
Zinc in Sync with Trendline - HindZinc Short !You can take it as either Intra or positional based on your risk appetite, but I will be aiming for a downside move in Hindzinc bcos of trendline retest and bearish nature. If you;re doing intra book partial profits in 245 zone,( positional too ) then trial the stops making it as breakeven trade :)
If trendline gets violated wait n watch, if the resistance also violated then Trade off the desk, till then its valid !
hindzinc - a buying opportunityfor educational purpose only - hindzinc may be on last leg of correction. a bounce may be seen and it may go to 296 -300. buy between 274-279 with sl of 270
Broadening top Reversal Patterm ShortThere is a possibility to trade Broadening top pattern. RSI is forming divergence also confirming weakness in the stock. Shorting now with Stop Loss just above the high made recently.
