HINDZINC TREND
It has been in a downtrend from 2 years, so we can see V shaped recovery.
WHY IT SEEMS BULLISH -
1. A small flag formation an be formed in daily charts, it has crossed an important level of 205 and now the stock will find resistance at either the trendline or another important level of 230. For now the stock can see some accumulation/retracement moves.
2. Also the stock has just crossed 200 day MA and constantly taking support of 50 day MA.
3. Keep your eyes in this stock as if it cross 230, this stock will be very bullish and can be brought for long term, because there has been a volume divergence too
WHY IT SEEMS BULLISH -
1. A small flag formation an be formed in daily charts, it has crossed an important level of 205 and now the stock will find resistance at either the trendline or another important level of 230. For now the stock can see some accumulation/retracement moves.
2. Also the stock has just crossed 200 day MA and constantly taking support of 50 day MA.
3. Keep your eyes in this stock as if it cross 230, this stock will be very bullish and can be brought for long term, because there has been a volume divergence too
Penafian
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