My target in CRUDE OIL hits Bulls Eye- a few days back I had indicated that a break below 5800/- on MCX can take it to Rs 5200/-. Today it touched a low of 5191 and is currently at 5285/-.
The Metal ZINC (on MCX)is in an interesting bottom formation at current levels.
Though Zinc prices are under pressure, price falls are not creating significant lows. In fact it may be forming a rounding bottom having taken support at 76-77 levels for past few days.
Initial resistance is at 85/- and once this is crossed, I expect the prices to go towards 91/-.
Even Hindustan Zinc seems to be waiting for cues from the Zinc commodity. It is near to a break out on daily charts which is at Rs 575/-. Watch it in coming days !
Happy trading !!
CA Rajiv D Khatlawala
1 comment:
Sir,
Earlier I have also seen monthly Chart which seems to be forming continuation pattern. Do you even suggest it for long term? What can be good stoploss looking ST + LT?
Piyush
Post a Comment