We have key support 167.50 - any dip holding above 167.50 can be taken as buying opportunity for short term target 178-180's & moving beyond 180- travels close to previous high 184-185.
Related Analysis Attached Below
Trade active
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10:26 Hrs 8th Dec2016
Last Price@179
Dips yesterday to 172 - Pushes upside 7 bucks-- Amazing
Day's High@183 - Moving Better & close to previous highs 184-185- Going above 185 - It shoots upside
Comments
nirav5
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Hi Abhishek, Hindalco made a low around 147. Superb analysis!! Another crowning glory. :)
What is your view ahead? Can we expect some short covering in it now?
WaveTalks
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@nirav5, Thanks, Let me check -I shall revert back.
WaveTalks
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@nirav5, (6th Jan2017) O!!! Nirav- I guess I missed this one due to hectic schedule apart from the passion, I have to keep my job- Well-coming back to the analysis--bounce back from 147 came to 162 today--no issues -we will get another trading opportunity below 147. Shall be doing a new update in a short while from now. Regards
nirav5
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@AbhishekHSinghCMT, Fine thanks.
k314
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Expecting a bounce back today!
WaveTalks
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@trex88, is this a question or update from your end
k314
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@AbhishekHSinghCMT, It was my update, sir. I had observed a parallel channel for Hindalco on daily chart (valid from Feb 2016) and currently the candle is near the lower part of the channel. I was expecting a bounce back today. But it didn't happen at the same time the channel pattern was not violated.
Hope to see a bounce back tomorrow!
What is your view ahead? Can we expect some short covering in it now?