Tuesday, January 11, 2011

Sure Shot Zinc Tips

Zinc (MCX-Jan'11): Yesterday zinc took good support at its 20 DEMA of 108.30. Technically, this counter is also facing sellers at higher level and it may fall till 106.20.

This counter last week shown weakness as we expect & mention that only above 113.2 its looks positive and below 111 it can touch 108 soon. As we wrote it was took support around 108.6. 

Now this week keep your eyes on level of 110, till its maintain above this level, you can keep buying in your hand till target 113 and remember once its cross and close above 113.8, you can't expect how much it will go up. Above 113.8 you can look target 117.25 and above 117.25 it can touch 129 very soon. 

But remember keep buying on our levels and till maintain above our levels you can keep buying so when you keep buying as our levels so also keep stop loss if it break or cross our level. 

TODAY'S STRATEGY: - This counter yesterday not shown any major movement. But from today we suggest you just keep buying in your hand till target 113-117 very soon. Today keep your eyes on level of 108.7, till its maintain above this level you can keep buying and once break 108, you have to exit in buying. 

Over all however suggest you shorts avoid shorts and keep buying. Today it will face resistance 111-112 & support 108.7-108.2.

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