The stock $HINDZINC experienced a massive rally earlier in the year peaking near the 740 level. Since that peak it has seen high volatility. It formed a lower high around 680 in late May/early June and has been in a short-term downtrend since then. Currently the price is consolidating at the bottom of this recent move. Immediate Support 520 - 530 the stock is currently resting exactly in this zone. This is a crucial support level as the price previously bounced from this exact area in late March and early April. Major Support 500-490, if the current support fails and the price breaks below 520 the next major structural and psychological support sits around the 500 mark. Immediate Resistance 560 - 580 if the stock bounces from the current level it will face its first major hurdle in the 560-580 zone. Major Resistance 680 the recent swing high from early June will act as a heavy supply zone. Short-term buyers the current 520-530 support zone is a solid entry point, especially since the company just reported a massive 145% jump in Q1 net profit. Make sure to keep a strict stop-loss below the major 500 support level to manage your risk. For current holders keep holding your positions as long as the price stays above 520 because strong earnings and lower debt might push the stock back towards the 560-580 resistance zone. Keep a close eye on the volume to confirm the bounce.

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