Manish Kumar

HINDALCO in it's profit booking mode

NSE:HINDALCO   HINDALCO INDS
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A clear #3 waves on UP for Hindalco completed around 164 and in last 14 hours the stock declined by massive 17% in an impulse down.

The stock has taken support aroun 138 and retracing back in ABC form.The #4th should come down to approximately 135 or so
Comment: Hindalco completes a part of fall at 138.55 as three wave abc and the retracing B wave fills the gap left during the fall from 164.85.

Now there's a gap left by the last impulse up which should fill next week and the stock shuld come down to 149 levels to fill the same.

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