ZINC - Signs of bottoming !!!

The NIFTY fell below the crucial 2750 level in intraday before closing back near its previous close of 2800. On daily charts it has given a Doji and I would expect further buying on tuesday on a break above 2840. Support remains at 2750.

The ZINC commodity has been witnessing support at Rs 52 levels and is currently at Rs 58. There is what we call a 'double bottom' formation at Rs 52 which is a 'trend reversal' pattern.



I expect further buying to occur on break above Rs it's recent high of Rs 60/- on which the expected target will be Rs 67/-.

Happy Trading !

CA Rajiv D Khatlawala
Head - Research and Training
Jhaveri Securities Ltd.