HINDALCO, possible Double Top formation !
HINDALCO closed at Rs. 184.45 today. It gave a clear 1.85% down move from the closing low of selling divergence (blue) candle which is Rs. 3.45 per share on 30 minutes chart. The possible double top chart formation is under process & can be confirmed only after the stock breaks the support at Rs.181 & moves further down with high volumes.
Indicator used TE REKAB, it captures reversals in the market.
This is my personal study & idea. Please take advice from your financial advisor before taking any investing decision based on above chart.
Happy Investing !
PS: If you appreciate my study, pls leave a like. My funda is to keep trading simple & stick to your conviction, once you are on the right side of an intra-day trade !!
HINDALCO closed at Rs. 184.45 today. It gave a clear 1.85% down move from the closing low of selling divergence (blue) candle which is Rs. 3.45 per share on 30 minutes chart. The possible double top chart formation is under process & can be confirmed only after the stock breaks the support at Rs.181 & moves further down with high volumes.
Indicator used TE REKAB, it captures reversals in the market.
This is my personal study & idea. Please take advice from your financial advisor before taking any investing decision based on above chart.
Happy Investing !
PS: If you appreciate my study, pls leave a like. My funda is to keep trading simple & stick to your conviction, once you are on the right side of an intra-day trade !!
