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Hindustan Zinc Time to Buy???Hindustan Zinc (HINDZINC) Analysis 🚀 After a Stage 2 breakout from ₹410 levels, the stock skyrocketed to ₹810, delivering a remarkable 100% return within a month. However, it has now retraced to its previous breakout zone of ₹410-₹415, signaling a potential Stage 4 decline. Currently, the stock is trading near the previous breakout zone, and two scenarios are in play: Scenario 1: Potential Double Bottom/W Pattern Formation If the stock forms a Double Bottom/W pattern and breaks out of the trendline, it could turn into a promising swing trade candidate. Entry: ₹482 (Safe traders can wait for a close above this level). Targets: T1: ₹575 (+19.5%, RR 1:1.23) T2: ₹716 (+48%, RR 1:3) T3: ₹810 (ATH, +68%, RR 1:4) Stop Loss: ₹410 (-16%) 💡 Why watch this scenario? The Risk-Reward ratio is favorable, and the breakout could indicate strength. If you feel compelled to trade, adding small quantities around the previous breakout levels of ₹410 could be a safer bet. Add only Test Quantities. Scenario 2: Breakdown Below ₹411 If the stock breaks below ₹411, it could re-enter the previous breakout base, with potential downside targets of ₹350-₹325. In this case, shorting opportunities might arise, but only if market sentiment aligns. Technical Overview 🔍 The stock is trading well below all key DMAs, indicating weakness. The Lower High-Lower Low (LH-LL) structure is intact with no signs of reversal yet. Overall market trend: LH-LL and trading below the 200 DMA. Any bounce could just be a natural pullback. Fundamentals 🧐 Hindustan Zinc recently posted decent quarterly results, but the broader market trend and technicals should guide your decisions here. Risks & Sugestions ⚠️ Risk Management: With a 16% risk on SL, position sizing is crucial. Avoid committing big capital without proper confirmation. Market Context: Be wary of overall market trends, as the broader market is still weak. Emotional Trading: Don’t get tempted by sudden spikes in the market. Always wait for confirmation. 👉 Pro Tip: Missing an opportunity is better than burning your capital. Start small to gauge strength before scaling your position. Educational Takeaway ✍️ This stock offers a good learning opportunity for breakout and retracement patterns. Add it to your watchlist but focus on risk management and position sizing. Disclaimer: This analysis is for educational purposes only. Consult your financial advisor before making any investment decisions.
NSE:HINDZINC
by sagartharayil
2
Nifty: A Deeper EW CountIn my previous post on Nifty I observed that we are in a possible wave iii of the larger 5th. See below... We have been correcting from the 'double up' level mentioned in that post and a casual look at the chart has been yelling the beginning of wave iv. But a deeper EW count has been telling something else to me. I know that there could be many conflicting counts on this chart but this one is the most preferred by me. This analysis is for a sub-wave which starts from 10033. According to this count we are in wave (iv) of this sub-wave. I have drawn a Potential Reversal Zone (10430-10605) which may offer a nice buying opportunity. If this count is correct, we 'll reverse from this zone and resume the uptrend of wave iii of 5th (see previous post for clarity on wave iii and 5th). Remember that this count would fail below 10405, so this can be taken as stop-loss level. Trade Safe Keep liking for better ideas. Regards Bravo
NSE:NIFTY
by Bravetotrade
9