Hindustan Zinc is trading a parallel channel. With resistance at 211.45, a bear engulfing candle was observed on 29th July.
Also, 200 EMA is above 50 EMA with RSI on a decline.
Can go short at 210.80 with targets at 203, 198, and 195.50.
With Metal Sector on the bullish side, hindzinc is in trending with good relative volume.
Narrow range -7 candle was observed on 18th Aug almost completing a pennant chart pattern.
Could resume the upward trend after bouncing from 0.5 -0.618 Fibonacci levels with moving average providing support.
