HINDALCO _ LONG TERM TREND ANALYSISBased on the recent corrections Hindalco shall be testing 398 level. It's 200 DMA is at 402.
If it can sustain above 402. we can expect 450 as short term target and 525 target as long term.
Please check with your SEBI registered adviser before investing.
Happy investing.
HINDALCO
Breakdown on Trend line with Nifty MetalsOn the last trading day, Nifty Metals had faced the breakdown of his trendline on daily chart. Now it will take support from it's next support level at 5282 & 5169 & then 5000. Such fall in Nifty Metals will cause more panic in market and we will see more decline in price of its major contributor Shares which are Tata Steel (23.56%), JSW Steel (15.38%), Hindalco (15.18%), Vedanta (9.06%).
Simple Trade Setup | HINDALCO | 15-11-2021 [ INTRADAY]NSE:HINDALCO
Observations:
1) On Daily time frame, It just closed above 10DMA.
10DMA is placed at 466.39 level.
Please refer below chart : 1 day Time Frame.
2) On daily time frame, it is still below 21DMA. 21DMA is placed at 483.32 levels.
Immediate support is at 460 level. Intermediate resistance is at 470 level range.
Major breakout level range is 480-485 level.
Please refer below chart : 1 day Time Frame.
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Trade Setup for Date: 15-11-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Also note that, I have given very small levels , so that one can take trade from any of these levels w.r.t price action.
HINDALCO: Forming Wolfe Wave In the process of Wolfe Wave formation. 450-440 is a very good accumulation zone. The reason is the 100 DMA , which has acted as a very strong support earlier and the Fibonacci retracement (Gann Level & Golden ratio level). Wait for it to respect the pattern and confirm a reversal.
Then the targets will be update in update idea section.
CHART & ANALYSIS - ADARSH DEY
Hindalco taking support from trendline (Swing Trade)Hindalco is taking support from a trendline on daily timeframe, after a good fall it is probably taking a correction/retesting. As on the previous day it has formed a Doji candle. There is a good chance that the price could go up from here in a few days or weeks.
Simple Trade Setup | HINDALCO | 25-10-2021 [ INTRADAY]NSE:HINDALCO
Observations:
1) On daily time, we can see that it took support from 50DMA and closed above it.
460 to 470 is immediate support range. Breakdown of it, will continues down fall.
But if it sustain and take support from it then we can see reversal and an up move.
Please refer below chart : 1day Time Frame.
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Trade Setup for Date 25-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
HINDALCO contra buyHindalco at short-term trendline support, also near 50 EMA which will act as a strong support point. Historically, in the past year, the stock has reversed most of the time from its 50 days EMA. Can go long here with SL below last swing low of 438, aiming for a target of new ATH of 600, giving a 1:4 R:R .
HINDALCO: CASE OF ENDING DIAGONALENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal, a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal began.
Trading strategy:
One should go short on current levels keeping SL of 510 & look for the target area of 440/420/400
HINDALCO HIGH PROBABILITY SHORT TRADEHindalco has a very important 6 time support from where it has recovered several times before . Recently the stock gave closing near this support . If the stock manages to break the support this time then we can see very good bearish momentum and easy intraday profits can be made.
ENTRY : 474.0 (CLOSING OF 15 MIN BELOW THE SUPPORT)
T1 : 468.80 (EASY TARGET)
T2 : 464.0 (IF STOCK GIVES CLOSING OF 15 MIN CANDLE BELOW T1)
long on Hindalco maintaining very good support at 464
buying zone as mentioned in the charts
RSI at 60-40
earning results soon.
waiting for vcolomes to raor the price.
All breakouts and targets are mentioned on the chart.
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Also, comments your views on this.
all the above analysis are as per my own observation and risk ape-tide ,
you may have any different views & observation, do your own study before taking the trade.
trade on your own risk, analysis is just for educational purpose.
Thank you.
HINDALCO INDSHindalco stock has made double top on hourly time frame along with bkt , bearish hidden divergences rd in rsi, macd, stochastic etc, we are having bearish bias in this stock, one can go short at these levels or on rise ( if any ) with stoploss of 486, all the key levels are mentioned on chart along with stoploss and targets.
key levels are mentioned on chart along with stoploss and targets
wave structure could be like this
macd in daily in negative croosover
macd in hourly started down tick
rsi in hourly below 60 now
dmi are converging in hourly
Bearish RD in rsi in hourly
Bearish RD in macd in hourly
Bearish RD in stochastic in hourly
BKT
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing