It is been observed that the price action is breaking out from a long consolidation range, indicating a strong move to upside.
Target: 215
Stoploss: 200
The prices are moving in a parallel channel since 01.02.17. Second last bar seems to be an pseudo Upthrust bar with good volume as last bar was a bearish engulfing and that too at significant 61.8 Fib level. One can short the stock taking the high of this bar as stop loss(closing basis) and look for the lower boundary of channel as first target which is quite...
Stock has been lingering around long term resistance of 200 for quite some time now. Notice the hidden bullish divergence formed with MACD and RSI. Can it break the triangle and go up?
i) If you get bullish entry setups on lower timeframe, take that till 200's
ii) If there is bullish breakout, trail stops n enjoy the run. Else book profits, if 200 not broken
Hi! I trade NSE stocks using Demand and Supply zone strategy, mostly in Weekly time frame.
Here's a trading plan for HINDALCO
Weekly location: Equilibrium
Daily trend: Up (Let's go long)
Hourly zones: Demand zone marked on chart
Trade duration (max): 1 week
Note: Target, Entry and SL on chart
Looks like a possible pull back after the price advance with huge volume.
Any positive catalyst can drive the price to new level.
However be cautious and set your STOPLOSS below the trend line.
Hindalco has formed double top on closing basis on daily chart. Short can be initiated below the drawn support line in Red. Possible targets are drawn in Green line.
It has also formed 'Weekly Bearish harami' and 'Three inside down' candlestick pattern.
Symmetric Triangle on Hindalco and it may break either side. Indicators are also in neutral.
NOTE - It may take 1 or 2 days to hit the target on either side.
Metal stocks have shown long term weakness with respect to BSE500, with support at 6000 levels. Another interesting point to note is that the index has short upward cycles but downward trends tend to drag out for 2 to 3 times the timelines of the upward trends, notable exception being the trend between 2005 and 2008.
Both the MACD and the relative strength...
Recent head and shoulder formation on Hindalco. Following this the stock has seen a sharp reversal and is currently at a critical support point of 150. The weekly charts indicate overbought levels on the stock. The 20-50 EMA crossover is at a tipping point. If there is a sharp bounce from the current levels then 162.5 is the next resistance.
Yesterday 12/26...
Hindalco 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.
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 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.
