#ZINC (4hr):- 247.75 CMP, at Support looks good for 253/255 (Invalid Below 245 DCB)
1) Trading at Support Zone :)
2) Volume Contraction
#Disclaimer:- View shared is for educational purposes only.
Standing at a good fibo support and previous candle support is also there.
Trade can be initiated with the given price and target.
Please do your own analysis before taking the trade and if you have any idea please tell me in the comments
The chart structure shows a strong bias toward the upside.
Most likely zinc is just starting to show initial signs, yet it's a fairly strong indication of higher side move.
As long as it continues to stay above the breakout level, & closes above 238, the probability of higher levels seems fairly strong.
At this point of time, targets of 260 to 280 seem be...
Tested crucial level.
Will take a good move from here.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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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...
HIND ZINC (NSE CASH)
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 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.
✔✔ Buy @ 160-69 range
sl below 145🤨🙏
Reasons for this buy
🧩🧩technically promising chart.
🧩🧩good q3 & q4 published.(Tinplate Company of India standalone net profit rises 107.08% in the March 2021 quarter)
🧩🧩Y-O-Y profit increaing gradually even the previous pandemic.
🧩🧩low debt company,therefore they offer good dividend returns