AbhishekHSinghCMT

Hindalco 2016 Diary- Blessed with Double Bottom at 147

Short
AbhishekHSinghCMT Updated   
NSE:HINDALCO   HINDALCO INDS
16
Latest Price@162.20- 6th Jan2017

2016 was an exciting year for me related to this stock-Hindalco & we had good opportunities in the past.

Blessed with double bottom right in the block hole 147 was something my colleague -Nirav5--highlighted to me (Thanks Nirav5) as tracking so many stocks by an individual is impossible but I try my best. I will like to say sorry to all those-whose request could be missed just because of time shortage at my end.

147-an important low- acted as good support.

What Next?
Moving below 160 & sustaining below that could be an opportunity for extreme risk taking traders to be in selling mode. Medium term risk takers can join extreme group if it goes below 150 & finally zero risk trader to sell below 147- recent double bottom low- as we all know going below double bottom-what will happen.

Target Zone
Shall be looking for the 125-130 zone

Click the charts & use load bar feature to see the future bars

This is how we moved in 2016

Buying above 170-172---Jumps upside to 184-185

Dark Cloud Cover Candlestick Pattern Makes me bearish in the stock at 180

Last Jump above 167.50- to- 183.45





Trade active:
18:54 Hrs 9th Jan2017

Closing price@157.90

Started the down move as expected in the update above

Trade closed manually:
Oh!!!

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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