Decent volumes in the last week and strong volumes in this week as well, a good price action breakout from the cup and handle pattern.
Target of 900++
SL 505
Hindalco it has taken reversal from the bottom and we can see it has formed an inverted H&S Pattern in 30 min time frame. Where we can expect the target for 600 first and then 620 in the month of Feb
Hindalco has created a bullish pattern, given breakout of recent high @ 508 and sustaining comfortably above that level.
Looking good for a buy @ CMP 515 and add if comes down towards 508 - 510 levels for the upside marked targets on the chart until 490 is intact on the downside.
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Happy Trading!
"Hindalco is moving in a channel and also in a triangle "
A good opportunity in Hindalco either we go for long / short by seeing the break out accordingly..
For the time being wait and watch.
* this is for study and analysis purpose only *
Thank you .
Falling wedge (Ending Diagonal) is normally the end point of any corrective structure in EW terms.
Even the current structure seems to have completed with this ED.
The correction halted (if it has) near the golden ratio of the last rise from June lows.
Today's close will be crucial in assessing if the correction is over - close coupled with Buy crossover in...
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
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 failed to complete the BOWL pattern now it is trying to make a CUP with Handle pattern
Buying levels above 415 with the SL of 4 to 5 rs and we can look for 1:1 to 1:2 target or more depending upon the volume.
selling is preferred below the 400 level and risky traders can have sold below 408 with the target of 404 up to 400 can continue further below 400...
look like a complete correction Hindalco ... build for the long position add small quantities on dips target 650
stock Fundamental's strong wait for the momentum target may achieve in a short period due to the Chinese lockdown and the global market situation ...
Hindalco forming a evening star pattern on a monthly time frame.
In the month of April the stock has already given a downside movement of 15% and can move below upto the level of 410.
On weekly time frame, the stock has closed below the 20 ema.
The stock on daily time frame has been consolidating in a range and has closed below the 200 ema and a support level...
Hindalco is trading near its 20 ema on an hourly time frame.
It has been respecting its resistance level too.
If the stock trade below the 539 level, it can fall further.
If the stock gains bullish movementum and closes above 551 levels, it can move upto the level of 563
Support :- 539, 528, 516
Resistance :- 551, 563
Wait for the confirmation with volume...
NSE:HINDALCO
What will happen next ???
Hint:- {
Today it faced again resistance @ its all time high..
it's a buzzing stock in market too...
it's Almost making double top...
}
Choose any one options from below
A) will it be able to shoot up again ??
B) will it fall from double top ??
...
