HINDALCO is testing 219-221 zone for third time which has acted as important resistance in past. It is in great momentum and looks high probable to break it this time. This can give good move above 221.2 tomorrow.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
Nice Analysis. I was observing the stock today(mostly in the second half) while the stock seemed to have given a breakout, why did it fall back(and keep falling)? At first I thought it was only a retracement.
Piyush-Gupta
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@banka_pranjal, It gave 3% move but due to huge selloff in market, this also failed to sustain.
Firestorm_11_
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@Piyush-Gupta, so how do you plan your exits in such situations sir? I am fairly new to the stock market, so any tips will be really helpful :)
Piyush-Gupta
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@banka_pranjal, See most of my charts are intraday unless specified.
I usually provide entry levels for trade as I want people to do little work in studying support & resistance and find targets & stop loss. This stock gave as close to 3% move and I happily captured 1.5% and exited well before fall.
Please note, in stock market no one has earned consistent money following calls. Purpose of sharing these charts is to promote price action based learning.