Hindustan Zinc Limited (HINDZINC) Stock - Complete Technical Analysis - Nov 27, 2024

Hindustan Zinc Stock Analysis: Key Support & Resistance Levels Revealed

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Hindustan Zinc Limited (HINDZINC) is trading at 499.95, approximately 38.10% below its 52-week high of 807.70 and 75.67% above its 52-week low of 284.60.

Support and Resistance Levels:

Support: The stock has a strong support level around 494.00, as observed in recent trading sessions.

Resistance: The immediate resistance is near 501.00, with potential to test higher levels if momentum builds.

Technical Indicators:

Relative Strength Index (RSI): At 46.23, indicating a neutral market condition.

Moving Averages: The stock is trading below its 10-day, 20-day, and 50-day exponential moving averages, suggesting a bearish short-term trend.

MACD: The MACD level is at -7.64, indicating a bearish momentum.

Average Directional Index (ADX): At 21.57, reflecting a weak trend strength.

Chart Patterns: A bullish engulfing pattern was observed recently, suggesting potential for upward movement.

Volatility: The Average True Range (ATR) is 28.81, indicating moderate volatility.

In summary, HINDZINC is currently in a neutral to bearish phase, with immediate resistance at 501.00 and support around 494.00. Traders should monitor these levels closely for potential breakout or breakdown opportunities.