The index gave a good breakout yesterday, however the RSI has not been supportive of it. We can expect correction in metals in the coming days.
Consider for long (only small quantity)when flag trendlines break. Add more when daily candle closes above 360. P.S. Pattern fails if lower TL of flag breaks or daily candle closes below 290
can short below 316.50 keep SL 320
This analysis is only study purpose.this is not any tip or call. Do trading after your own analysis. Hindalco is making flag and pole pattern. Wait for breakout. Watch Some Other Factor also like RSI.
I hope you can now see how HINDALCO represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that...
Note: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
NIFTY METAL Index is outperforming Nifty 50 Returns and Today we have seen Fresh trendline breakout, We may See Metals Stocks Shining in next few trading sessions. Keep A close watch on TATASTEEL, JSWSTEEL, JINDALSTEL AND HINDALCO
HINDALCO trading in an Rising wedge pattern, a clear pole and flag is visible in chart. If breaks above good to go long.. please Like this idea, it really motivates me to post more studies.. Comment your view, Follow for more..
HINDALCO 11 MARCH 21 ICHIMOKU TRADER
#HINDALCO - Breakout from parallel channel on monthly charts. Also seen is good volume. RSI is overheated. A bit of cool-off will be good for further upmove in this commodity cycle.
Hindalco intraday levels for 26 feb 2021