This is not an advice, it is just my point of view. Trade at your own risk.
Target - 405, SL - 330.
Related news - Aluminum prices have been rising rapidly and it reached an all time high yesterday in India.
Hindalco is looking bullish in both long term and short term perspective. For short term enter only above 363 with the target of 406 and stop loss of 346.5.
This is only for educational purpose. Trade with your own risk.
Analyze yourself before entering into a position. Sharing your ideas is the best thing about trading view. If you have similar ideas and if you share these ideas with the community , comment below so that I can follow you also please follow back.
HINDALCO , has recovered from the COVID Lows and It is both at 52WH and ATH
The volumes have grown significant over the last few weeks and is giving good momentum to the counter
A good close above 285 should bring in a significant upward move on this counter.
With Metal and commodity counters being bullish #HINDALCO becomes a good selection
Buy above the trend line for the target of the green line with keep SL below the black line.
High-risk traders can keep the SL for 1045.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
Hindalco is near the support zone. It has trend line support as well as 50 EMA support.
Stochastic RSI is also showing over sold levels.
By looking at the price action it seems like a minor pull back from recent high and the uptrend is still intact. Fibonacci is also showing 23.6% retracement from recent highs.
I am bullish on metals and Bullish on Hindalco as...
I hope you can now see how HINDALCO represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
Metal stocks have started staging a smart recovery with every sign of the global economy opening up post the pandemic and the resultant lockdown. Hindalco is one such counter that has seen a positive move. After a consolidation breakout, there was a triangle formation which is usually seen as a continuation pattern. The company also posted results that beat...