MTECHTIPS MCX ZINC INTRADAY trading tips 08-11-2016
MTECHTIPS Zinc is in perfect uptrend .Currently Zinc is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days lot of positive accumulation happened in the Zinc Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Zinc is 161-158-156-154-153-151-. Immediate resistance for Zinc is 168
Short term and Intraday Level of ZINC
Currently Zinc is in HOLD LONG position Zinc has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 167.2 with stop at 161.45 The Zinc is now trading is approaching overbought level. The oscillator is on SELL signal and Zinc is coming down from overbought level
Intraday Trend- Buy is advised only above 167.2 with a stop at 163.5 Below 162.5 go for sell and put stop at 166.1.