Link below in description my previous trendline trading strategy analysis, posted few days ago.
Now Hindalco has been trading with same trendline support, making higher high and higher low.
One who bought at close of trendline support at 438 (3), would have made around 8%, by booking profit at previous high of 474.
Now, one can consider long position at CMP, with SL as 445 on weekly CB, for the target of 552 with more than 1:3.5 RR, in coming weeks, months. Above 552, next target would be 615 (arrived from fib levels).
Kindly do your analysis before initiating trade.
Now Hindalco has been trading with same trendline support, making higher high and higher low.
One who bought at close of trendline support at 438 (3), would have made around 8%, by booking profit at previous high of 474.
Now, one can consider long position at CMP, with SL as 445 on weekly CB, for the target of 552 with more than 1:3.5 RR, in coming weeks, months. Above 552, next target would be 615 (arrived from fib levels).
Kindly do your analysis before initiating trade.
Trade closed: stop reached
