Zinc has an excellent corrosion resistance property hence used as preferred coating material in industries. Galvanization is the process of applying a protective zinc coating to steel or iron, to prevent rusting so we enjoy but I will excited if this coating goes off which is artificial to expose it's real beauty.
So, we want this coating to go off above 250 on...
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...
HINDZINC:273 is seems to be completed a primary wave]3] , and currently in its]4] correction.
its wave]2] was shallow & time consuming.Alternation Rule can expect a Deep & swift
move in wave4], may correct to 250 level.
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Hi All ,
Once upon a time last year.
"Mr.Ram Nene had bought Hindustan zinc put options strike price of 191 Rs and 186 Rs at premium of 9rs and 7rs" , Huge position was created
This activity was carried out 2 days before the record date of 25 Rs dividend payment by Hindustan zinc , The spot price of stock was trading around 190-192 range.
On record...
We can expect targets of 292, 299 & 305.5 with SL 264.5.
Also going by the thumb rule that all gaps will eventually get filled, we need to see if it will fill the huge gap down from end of March as well.
Buy tomorrow @ market open @ market price.
Signals are generated using a proprietary indicator developed by me using Tradingview Pine Script (). Key performance metrics generated from TV Backtester are published below (2007 to 2017). Original signal came few days ago but you may enter now as the price is down from the original entry value and you could take...
dis stock near its support area so there is huge chance for reversal so let bang on. entry stop loss and target given on chart.
hit like if you agree with the plan and follow me here for more updates and ideas. i really appreciate your support and feedback.
regards
king 999
for 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
There 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.
first we saw couple of bearish engulfing pattern over there and then we saw the dark cloud cover there both at the resistance area and negative divergence there prefer to short the stock
![HINDZINC: HINDZINC:273 is in primary wave[4],expect crrection to 250 lvl](https://s3.tradingview.com/r/rlqAwpjp_mid.png "HINDZINC:273 is in primary wave[4],expect crrection to 250 lvl")
