HINDALCO breaking the channel and looking to test 200dmaHINDALCO has broken the channel and ia trading well below it. 200 dma is placed at 130 levels, and we can easily expect the stock to test it
HINDALCO
Hindalco approaching uptrend channel supportHindalco has been trading in uptrend and trading in short term channel respecting support and resistance it seems to be approaching the channel support around 160-163. traders may enter short this stock at open with a target of 160.
Hindalco Channel formation (valid from FEB 2016)This is to support my Hindalco breakout idea on daily chart
Hindalco Looking Strong It is been observed that the price action moving up making Higher highs and higher lows. It also breaks above new resistance and now it shall further go up
Target: 177
Stoploss: 166
Hindalco looking strong enough to target 176.37 or 195.92 Hindalco trading in up trend and looking to continue existing trend targeting long term resistance 176.37 in near term or may in a week as first target, if breaks 176.37 as second target 195.92, it is forming a wide rising wedge, risky trader can go long in this stock at CMP, conservative traders may wait if stock touches 160.00 then enter long for better entry price.
Hindalco: Will It Clear Upper Parallel?After being rejected at the blue upsloping medianline, the red fork now seems to be in play.
Multiple Cofluence at this level HINDALCOPF, latest Trendline and Channel cofluence at this point suggesting that buyers may enter at this level. Please keep a watch on it for emerging trade.
Hindalco - a bounce expectedGood support area with Sl pretty nearby. A good RR long here imo with 156-162 possible.
Hindalco - at resistanceA move above 157 and we could see 161 in a flash.
Move back down from these levels would be bad for the stock.
Supports at 152 should be retested, IF,
it fails to BO from hereon.
