MTECHTIPS MCX ZINC INTRADAY trading tips 17-10-2016
MTECHTIPS MCX Zinc is in long- term bull phase .Currently Zinc is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Zinc is in HOLD SHORT position.Positionally Support for the Zinc is 146-.Resistance for the Zinc is 152-154-155-
Short term and Intraday Level of ZINC
Currently Zinc is in HOLD SHORT position The Zinc is in downtrend For short term buy only if close above 151.0 Selling pressure seems to be deceasing So Short term sellers have to take a cautious approach.Short only below 147.65 The Zinc is now trading in highly oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 152 with a stop at 149.6 Below 149 go for sell and put stop at 151.4.