HINDALCO 1D
Swing Trading Setup:
Instrument: Hindalco Industries Ltd (NSE)
Timeframe: Daily Chart (1D)
Chart Analysis:
The stock has broken out above a horizontal resistance level around 713.30, which was previously a strong resistance point.
The breakout is accompanied by a strong green candle, indicating bullish momentum.
Entry Criteria:
Buy Entry: Enter a long position if the price sustains above the breakout level of 713.30. Ensure that the breakout is confirmed by closing above this level, preferably with strong volume.
Confirmation: You can wait for a pullback to the breakout level (around 713.30) and enter if the price shows bullish reversal signs like a bullish engulfing candle or a pin bar near this level.
Stop Loss:
Place a stop loss slightly below the breakout level, around 700.00. This gives the trade some room to breathe without risking too much capital.
Target:
First Target: 750,800++
Instrument: Hindalco Industries Ltd (NSE)
Timeframe: Daily Chart (1D)
Chart Analysis:
The stock has broken out above a horizontal resistance level around 713.30, which was previously a strong resistance point.
The breakout is accompanied by a strong green candle, indicating bullish momentum.
Entry Criteria:
Buy Entry: Enter a long position if the price sustains above the breakout level of 713.30. Ensure that the breakout is confirmed by closing above this level, preferably with strong volume.
Confirmation: You can wait for a pullback to the breakout level (around 713.30) and enter if the price shows bullish reversal signs like a bullish engulfing candle or a pin bar near this level.
Stop Loss:
Place a stop loss slightly below the breakout level, around 700.00. This gives the trade some room to breathe without risking too much capital.
Target:
First Target: 750,800++
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