Hindalco Industries Ltd - Swing Trade Analysis

Mar 5

Hindalco Industries Ltd - Swing Trade Analysis
Trend Analysis
The stock was in a downtrend from its peak near 750 INR but has recently reversed. A breakout above the 200-day EMA (blue line) indicates a potential trend reversal.The recent move shows higher highs and higher lows, confirming a shift to bullish momentum.

EMA Analysis
The stock has crossed above both the short-term EMAs (red and green lines) and the 200-day EMA, which is a bullish sign.The short-term EMAs are sloping upward, supporting upward momentum.

Volume Analysis
Recent green candles show a rise in volume, confirming buying interest. The breakout above 640 INR was accompanied by an increase in volume, which strengthens the breakout.

Relative Strength Index (RSI)
RSI is currently around 65.98, which is near the overbought zone (70).
If RSI crosses above 70, there could be a short-term pullback before further upside.

Swing Trade Entry & Exit Points
Entry Points (Buying)
Current Breakout Retest (640-650 INR Zone)

If the price retests 640-650 INR and holds, it can be a good buy opportunity.
Confirmation: Price holding above 200-day EMA with strong volume.
Stop-loss: Below 630 INR (recent support).
Pullback to Short-term EMAs (620-630 INR)

If the stock pulls back to the short-term EMAs, it can be a safer entry.
Stop-loss: Below 610 INR if support breaks.
Exit Points (Selling/Profit Booking)
First Target: 680-690 INR
A strong resistance area where profit booking might happen.
Second Target: 720-740 INR
If momentum continues, the stock could test previous highs.
Stop-loss: Below 630 INR
If the stock breaks down below 630 INR, it may invalidate the breakout.

Conclusion
Bullish Outlook: The stock has crossed the 200 EMA and is showing strength.

Best Entry: Retest of 640-650 INR or a dip to 620-630 INR.
Targets: 680-690 INR (short-term) and 720-740 INR (extended target).
Stop-loss: Below 630 INR for risk management.

Mar 19

Trade active

Target reached