TECHNICAL ANALYST

Manav Chopra : 096198 99241

manav.chopra@greshma.com

STOCK TRENDZ - Technical Picks OCTOBER 11, 2010

BUY HINDZINC AT CMP 1214 AND DIPS TO 1200 SL 1180 TGT 1: 1280 TGT 2: 1310.

DAILY CHART

The counter has breached several resistance confluences around 1180-1190 levels.

1. The Descending trendline drawn from Jan’10 high.

2. 61.8% retracement level from Jan’10 high

3. Resistance of rounding consolidation pattern.

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As it can be seen in the chart above the stock has managed to violate the resistance zone and has managed to
sustain above it. The RSI is in buy mode trading above 60 levels and the MACD indicator is also above the
trigger line which is a bullish signal. The intermediate resistance for the stock is likely to be at 78.6%
retracement level which also the previous short term top. One can buy the stock with a bullish bias.

NOTES:
• Once the call is initiated, mentioned Stop Loss should be put for the trade
• Once into position, put trailing stops to preserve your profits

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