Hindustan Zinc can move to Rs 144: Anu Jain

Hindustan Zinc can move to Rs 144, says Anu Jain, Sr Vice President - IIFL Private Wealth Management.

Jain told CNBC-TV18, "If you look whether it's SAIL, Sesa Goa, Sterlite I think many of them are close to strong resistances and there is still scope. So in terms of chart pattern Sterlite is close to Rs 124 which is a very strong resistance. Sesa Goa at Rs 214 is close to resistance. There is scope in Tata Steel because now the resistance having crossed level of Rs 448 is now about Rs 480-485."
She further added, "The only patter which is really looking convincing out there is Hindustan Zinc. So it's already broken out of that resistance, which these other stocks are close to. So at Rs 134 if it drips down that would be a better pick if the momentum in the market stays because this is a momentum sector and we have seen it run only when the momentum runs because the chart is not showing saturation. It can move up to about Rs 144. So probably if the market is not breaking the 5140 its momentum is picking up and Hindustan Zinc would be the safest out there."