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HINDALCO

Bearish for HINDALCOWe can clearly see the hanging man (single candle-stick pattern) in the 1D timeframe, which is a signal for upcoming bearish dominance. Moreover, there is a formation of disjoint channel, which is going to open, most likely downwards. I am new to technical analysis and trading field, So, I need as much support, suggestions and improvements which you all can give on this idea. Note: 1. Green lines are for entry 2. Blue lines are for exit. 3. Stoploss can be set according to trader's discretion.
NSE:HINDALCOShort
by leon_scott
2
Hindalco, SwingHindalco is forming a symmetrical pattern and can break either side of the triangle. A break above can be traded for long position for targets of 411 and 426. A break on the downside can be traded for short position for targets of 380 and 367. A downside break will lead to the price going below the 50 EMA, and the first target mentioned for 367 is the level of 200 EMA. Make sure to trade what happens and not what you expect :) Note: Please do not follow my idea blindly, please analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
NSE:HINDALCO
by dakshjain76
2