HINDZINC closes at 130.05 with a fall of -1.70% on 17 June 2011 with formation of Bearish Engulfing Candle with Symmetrical Triangle pattern on Daily Price Chart. Technically, HINDZINC-I looking extremely week on Charts. Major Momentum Indicators are in bearish zone. Buyer-Seller Force Index,RSI, Ultimate Trend Cycle & Twinggs Money Flow & TAIO are looking week on Daily Price Chart.(Here Futures Near Month Chart is Considered)
We Recommend to SELL - HINDZINC at CMP
Target- 118/105
Stop-Loss – 133
Time Frame- 5-20 Trading DaysEditor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software. You can reach the Chartist here mail@niftynext.com
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