Sanjan91

HIND COPPER PRICE ACTION ANALYSIS

Long
NSE:HINDCOPPER   HINDUSTAN COPPER
The hind copper stock price has been falling heavily since it reached the ATH mark. However, the time has come to buy the stock based on the following reasons.

1) The demand zone is created by the ABCD pattern 2.24 and 2.414, the price bounced off this zone with huge volumes.

2) The price is near the 200EMA line, which is 117.17 currently.

3)The RSI is making the higher lows and is above 50.

4) The company's profits are increasing but the price keeps falling.

The risk-reward near this zone is attractive. We can keep a stop loss at 99. The target could be 158.

Happy trading :)

This is just for educational purposes.

Trade active: Just took off!
Trade active: still going great :)

Keep trailing
Trade closed: target reached