natarajanshankar

Hindalco - Flag & pole pattern

Long
NSE:HINDALCO   HINDALCO INDS
Hindalco formed the Flag - pole pattern after a good bullish breakout.
Once the price closes above the flag channel and a successful retest, we can expect a strong rally till 530.
So wait for the breakout or hold on your long positions with a fixed stoploss, Big move is on the way

Please share your valuable feedback.

Disclaimer: Kindly do your own analysis or consult your advisor before taking any trade. This view is for educational purposes only.

Comments

i am positive if the open above 450 by tomorrow. if open above 560 can be give 12 to 15 % upside in a day. since the it is already on the strong supper of 440. with the combination of last two days candles its looking like high wave candle looking forward upside as good result and good news too. there was shakeout in last trading day. expecting the breakout with high volume. also as per the dow theory price action in 15 minutes making higher high and higher highs. and days candle tringle breakout.

+1 Reply
i am positive if the open above 450 by tomorrow. if once above 560 can be give 12 to 15 % upside in a day.
Reply
I expect Good Buy between 432 and 437.
Reply
@TRADE07482 yeah... Its a best buy zone.. But sometimes the stock may fall to compete the mean reversion, as it had a good bull rally. Better to wait for the breakout and retracement, for a safer target.
Reply
@shrikanth0726 4hrs and above. But wait for the retest then enter to avoid false signals
Reply