Comments
The stock of Hindustan Zinc is showing strong signs of a trend reversal. The 1.5 per cent rally on Tuesday has taken the stock well above the key resistance level of ₹305. This indicates the reversal of the downtrend that has been in place since October last year. Cluster of supports are poised in the ₹305-₹295 region. Any intermediate dips can find fresh buyers coming into the market. As such a fall below ₹295 looks unlikely.
Hindustan Zinc can rally to ₹350-₹360 over the next three-four weeks. Traders can go long now and accumulate at ₹307. Keep the stop-loss at ₹292. Trail the stop-loss up to ₹321 as soon as the stock moves up to ₹335. Move the stop-loss further up to ₹334 when the Hindustan Zinc touches ₹339. Book profits at ₹345.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.