Hindalco - Possible range breakout and Ascending triangle set up
PA has formed a range in Hindalco and one can ride the breakout to the long for targets of 245++ levels. One of two scenarios may be possible.
Scenario 1 - PA will likely test the ascending trend line and retrace for a breakout.
Scenario 1 - PA will breakout at the resistance and move to next higher resistances registered in the past..
Scenario 1 - PA will likely test the ascending trend line and retrace for a breakout.
Scenario 1 - PA will breakout at the resistance and move to next higher resistances registered in the past..
Note
Green lines marks the targets..
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.