Hindzinc long
prices taking support at 50 day EMA
3 Hammer candles at near resistance level
Buy on close above - 331
SL- 316
Target- 351, 361, 382
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Charts and views are only for educational purpose.
price above 20ma,50ma,200ma in weekly time frame,it means uptrend,and structure is higher highs and higher lows to resistsnce PLEASE COMMENT YOUR EXPLANATION
HINDZINC seems to be reversing from long term trendline from Mar'2020. The price is also at 200DMA and is exhibiting bullish RSI divergence. Seems a good long candidate, heading towards 350.
Hindustanzinc can be a good swing trade to activate as it took a good support from 200EMA and gave a bear trap in the most strong trendline as it has been followed since 13th march 2020 it gave a breakout in a daily time frame without average volumes and the next candel even got lower but closed positively and the next candel even closed higher so its a perfect...
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
My strategy will be buy on dips for this counter
from 190 to 169 with SL of 155
Targets will be 224, 234, 258 and finally 285
(1 year view)
In case of very long term view...
if it closes above 344 then further upside upto
401 and 441 expected
so if you can wait for so long then can extend current target
further 305 and 333
but it will take years... and normally i...
