After a rise from the lows of 277 till 306, looks like Hindustan Zinc
HINDZINC
has completed the countertrend move and is on its way down again.
With Metal Index looking weak, I can see that the stock price got rejected after retracing 50% of the previous downmove, forming a Bearish Engulfing candle in the process.
Good opportunity to short here with a small stop loss for successive targets of 291 and 278.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
HINDZINC
has completed the countertrend move and is on its way down again. With Metal Index looking weak, I can see that the stock price got rejected after retracing 50% of the previous downmove, forming a Bearish Engulfing candle in the process.
Good opportunity to short here with a small stop loss for successive targets of 291 and 278.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.