Hindalco CMP : 327.15
This stock has formed a Morning star pattern . So keeping a stop loss of 313 longs can be initiated. Immediate target is 333. Now if stock is able to close above the parallel channnel, then we can see much higher levels. This is a flag and pole kind of pattern and pole length is approx 110 pts. .
Also why it feels that this time price will break above the parallel channel is bcoz RSI is also given a breakout.
Disclaimer: Views a re personal and for education purpose only. Critical feedback is always welcome. But dont trade or invest based on my views. Do your own due diligence.
This stock has formed a Morning star pattern . So keeping a stop loss of 313 longs can be initiated. Immediate target is 333. Now if stock is able to close above the parallel channnel, then we can see much higher levels. This is a flag and pole kind of pattern and pole length is approx 110 pts. .
Also why it feels that this time price will break above the parallel channel is bcoz RSI is also given a breakout.
Disclaimer: Views a re personal and for education purpose only. Critical feedback is always welcome. But dont trade or invest based on my views. Do your own due diligence.