Hindustan Zinc – Diya aur Batti Pattern📈 Pattern Analysis: Hindustan Zinc is currently shaping a "Rounding Bottom formation" on the charts, a classic reversal pattern that suggests the possibility of a long-term trend change. The stock is consolidating in a narrow range since Nov 2024 after a steep 50% decline from its top , indicating a phase of "Accumulation" .
Interestingly, alongside the rounding bottom, we also identify a newly observed structure – the “Diya and Batti Pattern” – which combines stability with a gradual build-up in price strength.
📊 Trend & Support:
The stock is trading above its 50 EMA, which is sloping upward, confirming the underlying uptrend.
Price stability over months strengthens the base formation and increases the probability of a powerful breakout.
🔎 Momentum Indicators:
Volumes remain muted during consolidation, a common sign of accumulation.
A decisive breakout must be accompanied by **rising volumes and a bullish candle** for confirmation.
🎯 Projection & Outlook: A confirmed breakout above the rounding bottom and accumulation zone will likely mark the beginning of a multi-year uptrend. Once breakout levels are crossed, Hindustan Zinc could witness significant upside momentum with potential medium- to long-term targets well beyond current levels.
⚠️ Disclaimer:
This is a technical projection intended for educational purposes, not an investment recommendation. Any trading strategy should be executed with proper risk management.
