Buy Mcx Zinc (May) @ 235.50 SL 229 TGT 247 - Choice Broking
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ZINC
* On the Daily Chart, MCX ZINC (May) price has reversed after taking a support at upper band of Symmetrical Triangle patterns, which indicates continue bullish strength in the counter.
* Moreover, the price has also taken a support at Middle Bollinger Band formation & 21 days SMA, which suggests bullish trend for the nearterm.
* Furthermore, the price has also sustained above Ichimoku Cloud formation on the daily chart.
* On a weekly timeframe, the Zinc has been trading in Higher Highs & Higher Lows formation, which is a continuation formation.
* Also, amomentum indicator RSI (14) & MACD showed positive crossover on the daily chart.
* Based on the above technical structure, we suggest a bullish movement in MCX ZINC (May) towards the level of 247 in the near term.
Buy MCX ZINC (May) @ 235.50 SL 229 TGT 247
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