HINDALCO-- UPDATE : Rounded Bottom Bullish chart pattern.
HINDALCO ---UPDATE : 06/03/2023 -- ROUNDED BOTTOM BULLISH CHART PATTERN --DAILY CHART
1. This is reference to previous idea of HINDALCO -- , we can see rounded bottom cup formation of chart ,
2. correcttion from 480 sub level sub to 400 level downtrend form, and after support formation of 400 level curve seen upside level .
3. 415 form as support , stock seen close around this level which is near by trendline breakout , if breakout candle seen then stock will be at bullish zone . for target 440-480 + as mention in previous idea.
4. Nearest support level 404-408 , resistance 425-440
5. CCI , EMA bullish crossover seen ,
** . arrow indicate rounded bottom formation levels.
THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk !!
HAPPY TRADING !!
1. This is reference to previous idea of HINDALCO -- , we can see rounded bottom cup formation of chart ,
2. correcttion from 480 sub level sub to 400 level downtrend form, and after support formation of 400 level curve seen upside level .
3. 415 form as support , stock seen close around this level which is near by trendline breakout , if breakout candle seen then stock will be at bullish zone . for target 440-480 + as mention in previous idea.
4. Nearest support level 404-408 , resistance 425-440
5. CCI , EMA bullish crossover seen ,
** . arrow indicate rounded bottom formation levels.
THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk !!
HAPPY TRADING !!
Comment:
CCI , EMA indicator, histogram seen bullish divergence
Comment:
Hekin Ashi green candle above trendline will be breakout and bullish trend confirmation candle
Comment:
Target 1-440 , Target 2- 480 ( not 880)
Comment:
Support of rounded bottom chart pattern, is inner edge of 'U' shape curve , like previous arrow indicate , this time at upper side . if previous support 400 broken and if stock hourly/ Daily candle close bellow 399 then this pattern no longer valid .
08/03/2023
08/03/2023