Hindustan Zinc stock has given a range breakout on the daily chart with a large bodied bullish candle. The RSI indicator is rising which confirms the positive momentum.
On option front, Maximum Call OI is at 25500 then 25300 strike while Maximum Put OI is at 25000 then 25200 strike
Nifty remains in a downtrend as it has been trading below all key moving averages. Supports for the Nifty are seen at 24540 and 24400.
The brokerage believes Hindustan Zinc/Vedanta's exposure to silver is underpriced, as the consensus expectations trail the strong move in silver in recent months