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Thursday, November 6, 2008

UPDATES ON NOV 6 2008

NOV 6 THURSDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 54.10 , S2 RS 52.30

R1 RS 57 , R2 RS 58.60

Zinc is now tradingf at Rs 59 and has been witnessing

a continuous downward trend since the few days

on the back of global weakness and demand supply

pressure.

Analyst say that the near term outlook seem range bound

with bouts of selling and buying.

Therefore traders advise is to go short in this counter

and every rise should be utilised as an oppurtunity

to create short position.

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