⚡ Hindustan Zinc at Critical Retest Zone – Multi-Signal Setup

The weekly chart of Hindustan Zinc Ltd. indicates a strong bounce from its base and is now approaching a decisive support–resistance retest. 📊 Technical View Elliott Wave Structure: The stock seems to have ended a corrective phase around the ₹400–410 zone and initiated a new impulsive sequence. The sharp rally toward ₹470 may represent the first leg of Wave 1, with the current dip acting as a Wave 2 retracement. MACD Divergence: Weekly MACD shows bullish divergence, where price made equal-to-lower lows but MACD signaled higher lows. This strengthens the bullish outlook despite near-term pullbacks. AVWAP Levels: Anchored VWAP from the last major swing high clusters near the ₹428–430 zone, aligning with horizontal support. This level is a critical demand zone for long-term buyers. 💡 Fundamental View Robust Fundamentals: Hindustan Zinc is India’s largest zinc producer, enjoying strong pricing power. High EBITDA margins (among the best in the metals sector). Strong dividend payout policy, consistently rewarding shareholders. Global zinc demand outlook remains stable, supported by infrastructure and industrial growth. 🎯 Key Levels to Watch Support Zone: ₹427–430 (horizontal + AVWAP confluence) Immediate Resistance: ₹470–475 (recent swing high) Medium-term Target: If Wave 3 unfolds, potential upside toward ₹510–520.