Note: This is for educational purpose only. There seems to be a bullish breakout with high volume. Moreover, RSI is above 60 which indicates bullish momentum.
As mentioned it is a rising wedge pattern and hence the downside will be too much if it breaks the wedge pattern.
I will look to sell the stock on a bounce from current levels in areas of 127 to 131 for 121 /114/110/100 targets
SETUP LOOKS STRONG, TARGET 155-160 MOMENTUM AND RSI LOOK GOOD. 9 EMA CROSSEDD OVER 40 EMA VOLUMES ARE GREAT DELIVERY PERCENTAGE = 22-30 % (ie TRADERS PLAYING) SWOT = 5/6/4/2 (MILDLY GOOD) BUTING A FUTURES LOT , ALONG WITH A ITM PE FOR SAFEGUARDING
ANALYSIS: While trading never forget the possibilities, each coin has two sides, market too have two sides. Everything is clear on the chart. Possibility 1: Price might touch 317 levels and move towards 322, 326, 328 levels. From this levels it might fall back towards 316, 310, 303 level. Possibility 2: Price might touch 317 levels and move towards 322,...
Facing resistance and distribution. I will sell this with a Rs 2 stop loss.
Sell around 151 Target 149.5 Stoploss 152 (Disclaimer: This is my Personal view not an investment advice)
Metal stocks have started staging a smart recovery with every sign of the global economy opening up post the pandemic and the resultant lockdown. Hindalco is one such counter that has seen a positive move. After a consolidation breakout, there was a triangle formation which is usually seen as a continuation pattern. The company also posted results that beat...
HINDALCO BUY ABOVE 150.90 (FLAG PATTERN) Note - This is for only educational purpose.
HIndalco might touch 170 mark in coming week. Note: Please use analysis only education purpose not for trading.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
please check on daily chart of hindalco share major resistance level of 130 has been broken . The stock can be taken for long entry with the target price of 145 to 150. Add the stock in your watch-list . kindly trade with stop loss and as per Reward to risk ratio. In case any query feel free to ask.
Hindalco Closing price 124.40 - Any dips especially towards 121-119 provides good risk:reward ratio to go long for target of 133 / 136 / 140.50 SL 117 ---------------------------------------------------------------------------------------------------------------------------------------------- Alternatively, consider selling Hindalco 25 June 2020 expiry 115...
vedl with lot of news flow in the counter , despite having it i see the stock as undervalued upto 78 zones , technically weak below it now and from here can try to give a quick upmove for 130 /144 zone