Buy MCX Zinc (July) @ 242 SL 236 TGT 252 - Choice Broking
Zinc
* On the daily chart, MCX Zinc has been rising continuously from the last many days with Higher Highs & Higher Lows formation that indicates a continued uptrend in the counter.
* Moreover, the price has also been moving above the 50*100 days SMA & Ichimoku Cloud formation, which indicates a bullish trend inthe counter for the longterm.
* Furthermore, a momentum indicator RSI (14) sustained above 60 level & Stochastic showed positive crossover onthe daily time frame.
* On a weekly chart, the Zinc has confirmed Bullish Engulfing candlestick pattern, which points outa bullish presence for the longterm.
* In addition, on four hourly charts, it has formed Bullish Marubozu candlestick pattern, which suggests bullish strength for the upcoming sessions.
* Based on the above technical structure, we expect a bullish movement in ZINC (July) towards the level of 252 inthe near term.
Buy MCX Zinc (July) @ 242 SL 236 TGT 252
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