Self explanatory chart. For educational purpose only. I am not a sebi registered expert. Trade at your own risk. Feel free to text & Share your views. Like & share as a token of appreciation
We 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...
Hindalco 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...
Can go Long if 400 range is broken with good volume. Shorting opportunity on reversal if 400 range is not broken.
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Price formed the triangle and it is all set to break.
Tomorrows open will be crucial Either it goes up from here so only buy above last candles high OR It will find support at 375.20 i.e previous resistance level or around 362-360 levels and then go up Please do your own analysis before making any decisions and also let me know if I missed something. Let's learn together.
Target and StopLoss on Charts
Hindalco is trading in triangle pattern. Keep eye on it...we can see confirmation soon TheCharts Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing
Hindalco triangle PATTERN BREAKOUT on small time frame KEEP on Radar
AFTER A RISING WEDGE BREAKOUT, PROBABLE W PATERN FORMATION ON VERGE
Currently Tracking- Note - For educational purpose only. I don't provide paid calls or stock tips. And that's why - - No SL - No Target - Just a picture depicting the story. Use it, if it's Insightful. Ignore otherwise.
Please be careful in metals as it is currently trading below the trend line.
a good buy option at the earliest
If 360-370 is held on a daily basis then an attempt will be done to break above 440 and may reach ~460. But good resistance is at 440. On the downside is 360 is broken then we may reach 300, 250. We may see 200 this year or in the coming years.
Hindalco has given a good breakout and it has achieved its technical target of 42 points now it may take a breather for a while a good break and retest setup may occur in the stock in futurere
Hindalco trend channel breakout done on monthly tf Can look for tp between 400-410 kindly motivate us by giving likes.... Disclaimer: only for educational learning and purposes