HINDZINC trade ideas
HINDZINC Short position Based on Resistance Support formation HINDZINC Short position Based on Resistance Support formation Stop loss & Target provided in Chart
HOW CANDLESTICKS CAN HINT A BOTTOM - ANALYSIS!**NOT A RECOMMENDATION TO BUY**
A single candle by itself is rarely sufficient reason to forecast an immediate reversal. It could, however, be one clue that the prior trend may
be changing. HERE in this chart a Hammer that formed after an extended sell off hinted sth is cooking for the HINDZINC stock as the bears tried to push the stock lower after a large hammer is formed ,bulls defended and came out successfully holding the bottom that was tested by hammer , In Japanese terms hammer implies to market to be testing the depth of the water! Long white candlestick (BULLISH) on a higher timeframe neat the bottom range of the established hammer showed that bulls are coming back in force to absorb all the selling force and successfully defended as shown in the chart of Hindusthan Zinc .
Small body candles denoting high wave,inverted hammer and spinning tops with high volume sessions indicated the accumulation of the stock while the prices went to test the hammer!
all the above factors combined with a trendline break and the prices failing to reach the lower end of the channel showed that a rally is to be expected & on the break of resistance zone 150.2 and it did breakout with a strong white candle showed an BUY oppurtunity!
price's holding with volume and long shadow with smaller bodies after appearance of hammer all signified the bulls are taking charge through accumulation on reaction to the hammer signified a wothwhile watch!
this can provide a meaningful insight for future analysis in a different stock and sector is the essence behind sharing this analysis!though it is past it can repeat in some other scrip so that there shows a valuable signal to BUY!
970. First hour play for short (FHP) playSL compulsory
if gap down, the set up get invalid
one percent as sl and one percent as target.
NSE:HINDZINC Buy For 30 Oct 2018HINDZINC
Buy initiate for 30 Oct 2018 using 30 min chart based on Fibonacci levels, check below buy level
Buy Above : 285.5
Stop Loss : 283.25
Target : 288.05
HindzincStrong resistance at 330 and price is returning from this level for number of times. It is like a wall hit repeatedly. One day it is certainly going to be demolished and it will be a big breakout soaring the price to greater heights.
REVERSAL BUY : HINDZINCBUY IS ACTIVE FROM 300.10 CMP 300.50 STOP BE CBSL 289 AND 1 TICK BELOW IT. TARGET 309.75
HINDZINC Going Into Bearish ZonesHindustan Zinc Ltd (NSE: HINDZINC) recently started moving into Bearish Momentum Territory as per TTC Breakout Formation . Right now, it is at a Critical Support Zone around 309 . If it breaks decisively below this zone (on 1-hour closing basis), we may see sellers gaining control over the buyers.
For Short-term targets, Trader should eye on 300 Zone . Then 290 is the next support. For Swing Traders, 271 Zone is Very Critical. Below which we can see a good amount of selling.
Hindustan Zinc Limited is an integrated mining and resources producer of zinc, lead, silver and cadmium. It is a subsidiary of Vedanta Resources PLC. HZL is the world's second-largest zinc producer.
HINDZINC Going Into Bearish ZonesHindustan Zinc Ltd (NSE: HINDZINC) recently started moving into Bearish Momentum Territory as per TTC Breakout Formation . Right now it is at a Critical Support Zone around 309 . If it breaks decisively below this zone (on 1-hour closing basis), we may see sellers gaining control over the buyers.
For Short-term targets, Trader should eye on 300 Zone . Then 290 is the next support. For Swing Traders, 271 Zone is Very Critical. Below which we can see a good amount of selling.
Hindustan Zinc Limited is an integrated mining and resources producer of zinc, lead, silver and cadmium. It is a subsidiary of Vedanta Resources PLC. HZL is the world's second-largest zinc producer.
Ready to fill the gap???Hindustan Zinc after going down with a gap down opening is clearly in an uptrend. Having crossed all moving averages convincingly, its ready to fill the patch thas lying vacant..... Lets see how it goes
SELLDAILY FINANCIAL WISDOM: "It's better to trade alone, than trade with a crowd going in the wrong direction.
