Hindalco : Breakout Off of Daily coupled with 15 Min TF
Updated
Hindalco has been struggling to Break out of the Range since months on Daily TF, but this time theirs high probablity of breaking out of the range looking at the maturity of the pattern on Daily TF.
The Channel as well as The Ichimoku Cloud has been broken out on 15 min TF. After the open on Monday, Hindalco may test the 200-201 level which is a strong area to enter into the trade. Targets can be around 207-210 or one may trail the Stoploss. SL should be at around 198.30. Good R/R Trade.
It may take a day or two to reach the targets.. so I'll keep you all updating on this, Stay Tuned :)
The Channel as well as The Ichimoku Cloud has been broken out on 15 min TF. After the open on Monday, Hindalco may test the 200-201 level which is a strong area to enter into the trade. Targets can be around 207-210 or one may trail the Stoploss. SL should be at around 198.30. Good R/R Trade.
It may take a day or two to reach the targets.. so I'll keep you all updating on this, Stay Tuned :)
Note
Seems like Hindalco is less likely to test 200, but as said earlier if you would have took entry at 200-201 looking at the momentum, then u have a good fortune. but for those who still waiting for entry, may enter at 201-202 with SL at 199.Trade active
Trade active
Stop loss still Intact, Keep Holding it!Trade closed: stop reached
I took out half of my positions at 198 and still holding rest of my position as it will bounce back from 195-196 levels.. if it doesnt then it will look at 190..therefore its better to be out at 195-196 as per ur risk tolerance.
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