Today Zinc Calls – High Risk taker Buy Zinc at CMP 171.20 for Target 172.20 – 173 with SL Below price 170. RISK taker trade 2 to 3 lots
Zinc daily chart has formed “Descending broadening wedge” pattern. The last session been in bullish trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, testing all the way through 174-176 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 170.50 then it might turn bearish. The downside rally could test up to 165 levels. Key resistance holds at 176.