Swing Opportunity in Hindalco
Updated
Go Long above 385.05, for Targets of 399.15, and 413.25 with SL 370.95
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this the stock has given a Trendline breakout.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this the stock has given a Trendline breakout.
Trade active
Entry triggered on 6 July 2021Trade closed: target reached
Target 1 achieved on 15 July 2021.
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