1) On 1day time frame,it gave breakout of both 100DMA and 50DMA.
Please refer below chart : 1day Time Frame.
Trade Setup for Date: 23-12-2021
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...
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.
1) On 15 min Time frame, we can see that it had made hidden bullish divergence and gave good upmove on 3rd sept from the intraday low made on 3rd sept.
Please refer below chart : 15 min time frame.
2)On Daily Time frame we can see that on 3rd sept it has clossed above earlier resistance range 455-458 level.
1) On Daily Time frame you can see that it has followed FIB levels perfectly and immediate critical support level is 458.
Please refer below chart : Daily time frame.
Trade Setup for Date 02-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for...
It has been taking support from the trendline.
If tomorrow, 11-08-2021, it takes support from the trendline or breakout this trendline then it will be a quick buy trade.
Safe buy trade will be above 430 level breakout with RSI trendline breakout. If 430 levels breakout but RSI trendline still remains below trendline then better to wait.
It is still the same level.
All levels will work as support, resistance, Entry and Target with respect to price action on particular day near that level.
Do comment if you have any doubt or suggestion.
Today it tested the support of 407 range which is just above the consolidation zone. Which shows now the level 407 range is strong support zone.
Simple Trade setup for 29-07-2021.
Again today it closed above 415 level. If it remains above 415 then it will give good opportunity for buy trade above 415 level. Targets are marked on the chart.
Today, 27-07-2021, it gave perfect breakout of cup and handle pattern with good move and volume. Also our Target hit.
Trade Setup for 28-07-2021.
It closed above 415, which is a good sign.
TOMORROW, if it goes below 415 and then test the support from range of 412.80-413, then go bullish. For Intraday, at least Book your profit or partial...
Today HINDALCO Tested previous resistance of 396 level and that resistance turned in to support today.
This 396 resistance range was breakout with big bullish candle on 15-07-2021. So this type of correction was expected.
Tomorrow, 20-07-2021, if it sustain to trade and follow trendline then there will be up movement. It can face the first...
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
The above references as an opinion and is for information purposes...