HINDALCO INDS

Hindalco stock has made double top on hourly time frame along with bkt , bearish hidden divergences rd in rsi, macd, stochastic etc, we are having bearish bias in this stock, one can go short at these levels or on rise ( if any ) with stoploss of 486, all the key levels are mentioned on chart along with stoploss and targets.

key levels are mentioned on chart along with stoploss and targets

wave structure could be like this

macd in daily in negative croosover

macd in hourly started down tick

rsi in hourly below 60 now

dmi are converging in hourly

Bearish RD in rsi in hourly

Bearish RD in macd in hourly

Bearish RD in stochastic in hourly

BKT

Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing

Trade closed: stop reached