Anand Rathi Investment Services has identified Hindustan Zinc Ltd (HINDZINC) as a key stock for investors to accumulate in the ₹520-480 range. The stock has been in a consolidation phase after finding support around the 200-day Exponential Moving Average (DEMA) at the ₹470 level, and it is now positioned for a potential breakout.
Key Highlights:
- The stock had peaked around ₹780 before entering a downtrend, but has shown signs of stabilization at the support level of ₹470.
- A breakout from current levels would signal the resumption of the uptrend, presenting a strong buying opportunity.
Anand Rathi has set Target 1 at ₹680 and Target 2 at ₹750, with a stop loss at ₹380.
Disclaimer: Stock investments are subject to market risks. Please read all related documents carefully before investing. The information provided in this article is for informational purposes only and should not be construed as financial advice. Consult your financial advisor before making any investment decisions.
