My Zinc target has been reached. Buying was indicated at Rs 65.50 for target 77/-.
I have been observing Crude oil for some time now and I presume there is a 'continuation' pattern visible. A break out above Rs 2700 (stop Rs 2450) will be positive.
Soon it could be targeting Rs 3050 and then Rs 3400 /- ...
While the fundamentals are silent, the technicals are favoring a 30% jump !! Time shall tell . . .
Lets await the break out.
Happy trading !
CA Rajiv D Khatlawala
Head of Research
Jhaveri Securities Ltd.
4 comments:
What is the time frame for the breakout as well as time to achieve the first target itself?
Also, what is the next target for Zinc?
Mr.Rishi the may contract crude oil might touch the tgt given by mr.Rajiv....actually i am keeping this tgt in ma mind frm a long time(frm 1 mnth)..bt there was no one to support my views... fr may contract i am keeping a stoploss 2571 & above 2700 tgt is 3036/3150/3330
...AS of zinc spot...weekly trend : it has got support @ 73 & also 73 is an best buy level..if it breaks the resistance @ 74.40 then tgt fr ZINC is 79.15/80.60;but if it faces resistance @ 74.40 & breaks 73 towards downside sell it for tgt 68.20/66.65...( i reccomend u to kindly track my given levels this time)
Rajiv, now since crude has not broken 2700 and fallen below 2450 as well, what is the new outlook?
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