after using fib tool I am able to See that below Fib level there is volume gap or price displacement. I think that price to moving to fill that gap. after filling the gap I am expecting price to reach atleast 50% of Fib level. This is not financial advice . profit or loss its all yours .
HINDALCO ve a crab harmonic pattern.accoring to this pattern sell hindalco below 487 add more 507.4 closing stop loss 515.4 and targets will 450.3-379.1-358.10
Hindalco looks like is consolidating just near immediate support and is ready to provide another leg of fall. I had given caution around 25th Jan in few groups to stay away from Metal ....
Expecting some more pain in Metals unless recent swing highs are taken out ...
Hindalco trading near it's hourly support zone @ 405 - 395 and expected to show a bounce towards marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Hindalco can rise to 436 levels to complete Wave C of B which should be followed by Wave (C) down so we would trade this setup on short side when the pullback is complete.
HINDALCO --DAILY CHART --SETUP
1. This is reference ro eariler idea oF GOOD -BUY--HINDALCO ,
9/03/2023
UPDATE : Double bottom formation seen at support level sub 400 , , Bullish CCI DIVERGENCE, CCI, ema crossover seen.
HAPPY TRADING .!
HINDALCO ---UPDATE : 06/03/2023 -- ROUNDED BOTTOM BULLISH CHART PATTERN --DAILY CHART
1. This is reference to previous idea of HINDALCO -- , we can see rounded bottom cup formation of chart ,
2. correcttion from 480 sub level sub to 400 level downtrend form, and after support formation of 400 level curve seen upside level .
3. 415 form as support , stock...
HINDALCO --15 MIN CHART SETUP -- INTRADAY --27/02/2023
1. Last closing candle 15 min heikin ashi found as doji trend reversal after consecutive red candle
2. Double bottom found at 415 level
3. BUY above high of doji candle 416.50 ( 15 MIN candle close abovr 416.50 ) INTARDAY target 420-425 stop loss 409
4. CCI indcate oversold level possible pullback.
5....
Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend.
Support occurs where a downtrend is expected to pause due to a concentration of demand.
Market psychology plays a major role as traders and investors remember the past and react to changing conditions to...
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
Only for educational purpose.Not a recommendation
Engaged in the manufacturing of Aluminium &Copper Products. An undervalued stock. After breaking the short term support , bounce back from there.Have resistance at 500 levels
Hindalco broke trendline on Daily timeframe with increase in volume.
Short position ->
Entry = 435
Stop loss = 450
Target = 485
F&O position can be taken for the trade.
Stock Name - Hindalco Industries Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 504
#This is not Buy and Sell recommendation to any one. This is for...
Hindalco consolidation in very narrow range after trendline breakout. So keep on your eyes on it
Entry level :- Above @500
Stop Loss:- Below @497
Target:- 1:1 or 1:2
