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HINDALCO

Weak Global Cues Force Nifty To End In RedNIFTY 50 EOD ANALYSIS -30-07-21 IN SUMMARY Open / High / Low / Close 15800.6 / 15862.8 / 15744.85 / 15763.05 Trading Range Low to High: 118 points Likely Max Realistic Opportunity @ 50%: 59 points India VIX: 12.8 / -1.16% FII DII activities: -932 Crores CHART BASED CONCLUSIONS The opening candle on the 5 minutes chart was a shocker - almost 80 points and the moves were violent as there was a spike in prices of HDFC twins and then they sank and then HDFC spiked yet again. In the last half an hour, the opening was retested as the global cues were negative so we had to close in the Red to fall in line with the leaders. After the first 15 minutes of action-packed drama, there was range-bound action and even though the European markets were in good red, suddenly, there was a breakout of 50+ points on Nifty which got sold in to and proved to be a fake-out. If the candles of yesterday and today are combined, there would be little difference in the Nifty level as more or less they are identical. Except that today was a HH and HL day. TOP 3 LOSERS HINDALCO - Looks like the traders are unsure if the scrip would sustain around these levels as profit booking was in action albeit with low volume. So we have to see how it trades in the next few sessions. BAJAJ FINANCE - From the ATH to a big red candle - a dark cloud cover or bearish engulfing. Gap-filling for open gaps has been accomplished and it is closer to 20 DMA so wait and watch for now. SBI LIFE - Yesterday’s candle had given an indication that profit booking is likely and that is what has happened. Looks like a steady rise is now getting encashed as the volumes are low. TOP 3 GAINERS SUN PHARMA - A very unusual candidate on this chart and what a roaring rise of 10% ahead of its results breaking out of a multi-year resistance. The volumes are also very high so now the action of 2-8-21 needs to be seen if it can test 800 in the coming week. TECHM - A strong gap-up has set the scrip hanging in the air at ATH with strong volumes. The scrip could not close exactly at the ATH level, but it's close is still at ATH. CIPLA - A strong bounce from the base camp but the volumes are not great as it is still below the 50 DMA which is at some distance away. POSITIVES HDFC twins and KOTAK BANK made it possible for Nifty to get back past 15835 levels. The extent of negativity in European markets was severe at its open and yet Nifty rose so it is a good sign that the undercurrent is positive. NEGATIVES SBIN, AXISBANK, TCS, RELIANCE, ICICI BANK, ITC and INFOSYS ende in red. This was the major reason for the Nifty sell-off in the last hour or so. Nifty is unable to decide which way to go as the under-current seems to be positive, but some of the heavyweights are dragging it down under global cues as the market context. One more day and one failure to sustain above 15800 levels. FIIs have sold a massive 3800+ Crores worth of shares. The selling spree is nonstop and DIIs are unable to match or overtake them by buying in large quantities. TRADING RANGE FOR 02-08-21 Nifty support, for now, is at 15700-750. And resistances every few points. No point mentioning those again and again. BANKNIFTY support range 34200-400 and resistance 34800-35000. Unless there is a break-out or down, the range-bound behavior is likely to continue. INSIGHT / OBSERVATIONS The Open price of Nifty on 29-7 was where it ended today - leave aside a point or two here and there. This has been happening regularly and those who thought like Pros would have made good gains today. Even though we do not always rise when Global cues are positive, we end up following Global cues when they are negative and that is what was seen today. The fall from the high in the last 90 minutes seems to have occurred only for that purpose and we ended the day just below the earlier close by 15 points. Such moves catch the retail traders on the wrong side as genuine SLs would get hunted and the FIIs / DIIs get a bargain buy/sell candidates. The trading range for the indices has not changed despite one eventful trading day. So it is better to be stock-specific than Index specific. With the reduced lot size in Nifty, making money has become hard. One lot of 50 is too small and 2 lots become a bit high from a risk management viewpoint. FIIs relentless selling and DIIs inability to match it with buying is causing Nifty to find it hard to move up. Thank you, and Happy Money Making! Umesh 30-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title as well as its contents can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
4
HDFC twins, KOTAK BANK throw their weight in and end the expiry NIFTY 50 EOD ANALYSIS -29-07-21 IN SUMMARY Open / High / Low / Close 15762.7 / 15817.35 / 15737.8 / 15778.45 Trading Range Low to High: 80 points Likely Max Realistic Opportunity @ 50%: 40 points India VIX: 12.95 / -5.41% FII DII activities: +1190 Crores CHART BASED CONCLUSIONS Nifty was made to end the expiry below 15800. A psycho victory for the bears and a sweet victory for the 15800 and above Call Writers. The range for yesterday was 180 points and today it was only 80 points. The expiry fireworks took place on Wednesday and today was a painstaking and option premium decaying expiry. Once again, Nifty ended around the opening price and it also ended the series on an indecisive note with a Doji candle on the monthly charts. We have only made a higher high and higher low, but we are still not yet out of the haunting zone of 15835-50. TOP 3 LOSERS MARUTI - The car made a nosedive after losing support of the 50 as well as 200 DMA and halted at the FIB level of 6936-50. There may be some more weakness as has been experienced by almost all the scrips that declared its results this season.If that happens, it may head towards 6800 from where the earlier bounce was made in a very smart manner. ITC - Breached the 50 DMA and is now hoping to get support from 20 DMA and if the sentiment is bad, it may retest 200 DMA around 200. A scrip that is extremely range bound and possibly making the option writers happy. BAJAJ AUTO - After breaching its 50 DMA around 4100, it has been consistently falling and is now within a striking distance of its 200 DMA around 3675. So tomorrow’s price action is likely to decide if it is taking support or losing it. TOP 3 GAINERS HINDALCO - What a roaring move and what a convincing manner to break the earlier ATH which could have acted as a resistance. The scrip even outpaced TATA STEEL and placed it on the second spot. We have to see how far can this rocket go! TATA STEEL - It is good to see Metals becoming a rocket! Yet another ATH and it is heading higher. BAJAJ FINSERV - While the auto sibling has been consistently losing, this one has been consistently rising. Making ATH close regularly and that is how it should be. POSITIVES Nifty ending above 15760-770 resistance line is a good thing. Apart from the Metals family, SBIN, RELIANCE and INFOSYS helped Nifty remain at higher levels amidst expiry sell off that is customary in the last hour. DIIs bought in excess of 2000 Crores to support the market which indicates that the short term up side is seen at 2-3%. NEGATIVES Yet another day when Nifty failed to hold on to the 15800+ levels and closed well below 15800. Such closes make it harder for the bulls to bounce back. FMCG majors, HDFC twins, KOTAK and AXIS BANK dragged the indices and when HDFC twins are not on your side, this is what happens. HDFC BANK barely managed to close above the earlier close, but is finding it hard to cross the 200 DMA which has been broken. So it looks like as if it is waiting for help from its sibling HDFC whose results are due on 02 Aug or from the other peers many of whom are themselves struggling. TRADING RANGE FOR 30-07-21 Nifty support for now is at 15700-750. And resistances every few points. No point mentioning those again and again. BANKNIFTY support range 34200-400 and resistance 34800-35000. Unless there is a break out or down, the range-bound behaviour is likely to continue. INSIGHT / OBSERVATIONS Private banks other than ICICI BANK would need some kind of trigger to lift them from the levels where they are - actually, these make a good investment opportunity. FIIs keep selling relentlessly and DIIs keep buying. This is quite interesting as the DIIs are betting on India and FIIs seem to be having some other plans. Let us see where Nifty opens the account in Aug series and whether the FIIs become Net buyers from tomorrow. Thank you, and Happy Money Making! Umesh 29-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title as well as its contents can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Nifty back in the loop of 15700-15835NIFTY 50 EOD ANALYSIS -27-07-21 IN SUMMARY Open / High / Low / Close 15860.5 / 15881.35 / 15701 / 15746.45 Trading Range Low to High: 180 points Likely Max Realistic Opportunity @ 50%: 90 points India VIX: 13.23 / +6.27% FII DII activities: -731 Crores CHART BASED CONCLUSIONS Nifty ended the day as if today was 19-7-21, just around the same level. This is becoming a regular feature nowadays. With the increased VIX, Nifty finally expanded its range to 180 points and remained downward for the most part of the day except for the relief rally around 1300 hrs and a mini-rally after the sell 0ff in the last one hour. It appeared that call writing was heavy even at 15750 as the level could not be breached. Nifty would need a great amount of effort from the heavyweights to bring it back on track. With only 2 sessions to go in this series, 16000 is unlikely to be attained unless there is a strong gap-up followed by a short covering in the next 2 sessions. TOP 3 LOSERS DR REDDY - A massive 10%+ fall in the scrip dented the spirits even though it is not a heavyweight. This fall has wiped out the gains of the last several weeks. CIPLA - One more from the Pharma sector that washed ashore and broke 50 DMA decisively. The Pharma sector was affected today but the top 2 losers from Pharma in Nifty is something quite an unusual scenario especially due to the fact that the sector was strong post-Covid. AXIS BANK - Like all Nifty 50 members, this one too fell sharply post results. This seems to be the trend now and especially on the day after the results have been announced. TOP 3 GAINERS HINDALCO - A strong follow-up moves from the scrip after a good performance on 26-7 and is now heading higher into the resistance zone. The RSI on the daily chart is supporting above 60 so it may well be able to create a new ATH. SBI LIFE - The star performer of 26-7 did well today as well though it witnessed some sharp down move, it recovered very well and made yet another ATH close. TATA STEEL - A gap-up opening and it sustained the negativity in the market making it close at yet another ATH. RSI is also looking good so this is heading higher in the coming session's subject of course to its results. POSITIVES Just because I have a section where I am forced to write that INFOSYS closed above 1600 is a positive sign. Nifty managed to close above 15700 is also a positive sign. Of the Banknifty community, SBIN showed good strength maybe as its result is not yet out. NEGATIVES Nifty has broken 15800 yet another time and the bear camps in the 15835-50 may be dancing with joy as they succeeded in dragging Nifty back to 15700 after a modestly good start. AXIS BANK, KOTAK BANK, HDFC, ITC, and RELIANCE dragged Nifty by the collar and made it hard for the bulls to bring it back from breaking the 15700 lines. FIIs are still Net Sellers at 1400+ Crores. TRADING RANGE FOR 28-07-21 The support line for Nifty now moves down to 15650-700 with the resistances being 15750-775-800-15835-50-900. For any future bullishness, a close above 15900 is essential. 34400-600 is still the support area for Bannifty with 35200-35300 as the resistance band. INSIGHT / OBSERVATIONS RELIANCE tested its 200 DMA and also the FIB support at 2040. This was long overdue and hopefully, this will lead to reduced negativity from hereon. HDFCBANK closed below 200 DMA on 26-7 and is on the line today. And its sibling HDFC broke its 200 DMA today so the reaction tomorrow is going to be interesting. In comparison to HDFCBANK, HDFC is a fast-mover on either side of its day. FMCG scrips are under pressure but the wholesaler of FMCG goods DMART, is scaling higher highs. This is quite an interesting situation to have and is open to interpretation. Thank you, and Happy Money Making! Umesh 26-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
HINDALCO CUP AND HANDLE PATTERN BREAKOUT| TRADE SETUP 28-07-2021NSE:HINDALCO Today, 27-07-2021, it gave perfect breakout of cup and handle pattern with good move and volume. Also our Target hit. Trade Setup for 28-07-2021. It closed above 415, which is a good sign. TOMORROW, if it goes below 415 and then test the support from range of 412.80-413, then go bullish. For Intraday, at least Book your profit or partial profit at 420 level. As 420 is having highest call writing addition today. And if it keep on trading above 420 then the next target will be 425-428 zone. For the sell side once it breaks the 410 level with bearish red candle then go short till 1st small target 407 and then 400. Hope you had a good profit from this trade today. Do comment if my ideas are helping you to understand trend, levels and price action. Let me know if you have any doubt or suggestion.
NSE:HINDALCOLong
by Trading_hawk
3
HINDALCO | LEVELS AND TARGET | 20-07-2021NSE:HINDALCO Today HINDALCO Tested previous resistance of 396 level and that resistance turned in to support today. This 396 resistance range was breakout with big bullish candle on 15-07-2021. So this type of correction was expected. Tomorrow, 20-07-2021, if it sustain to trade and follow trendline then there will be up movement. It can face the first resistance at 400-403 range. Once this range broken then aggressive trader can took position till target of 407. For the safe trader it it better to take position after 407. Targets are mentioned on the chart. Below range of 392 it can give a safe short/sell trade. Let's see how price action works tomorrow. All the best for the trading tomorrow. Do comments if you have any doubt.
NSE:HINDALCOLong
by Trading_hawk
1
Hindalco - Channel pattern🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:HINDALCOLong
by PrakWorld_Traders
Hindalco Industries Ltd : Upside or Downside Momentum ? CommentChart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade. The above references as an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
NSE:HINDALCO
by GavinChris