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
Hello beautiful people,
I am going to present hindalco future trend in near future, as we can see hindalco has broken the tradeline which was the strong support for the uptrend , short-covering also done to the respective tradeline.
In 4 hours chart we can see the rejection candle formed but confirmation yet to be done any red candle on 4 hours chart will...
Hindalco inds seems like inverted pennant flag pattern. when it will breakout downward, then only pattern will be activate. Otherwise keep concentrate for breakout whether up or down.
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...
I will strongly prefer Price to come into my zone & play as per my price action strategy.
All levels Clearly mentioned in the chart i hope this will helps a lot.
Hindalco has been consolidating in a parallel channel for 7-8 days.
The support for the stock is near 550 levels.
If the stock gives a breakout on the upper side the achievable targets are around 600 and 620 levels.
The trade can give momentum,
Daily time frame is good as the consolidation is what we look for.
Wait for the breakout of the parallel channel and...
Hindalco ltd. in a downtrend nowadays. According to Harmonic pattern & Fibonacci, there are some important levels to short :-
Target 1 - 566.00
Target 2 - 550.00
Trade will be only Confirmed if price close below 580.00 on Daily Timeframe.
NSE:HINDALCO
#HINDALCO reached resistance and completed pullback and shown good volume in reversal with big green candle.
levels marked on chart.
Happy LEarning.
NSE:HINDALCO
Observations:
1) On 1day time frame,it gave breakout of both 100DMA and 50DMA.
Please refer below chart : 1day Time Frame.
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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: Simple Trade Setup | HINDALCO | 23-12-2021 [ INTRADAY ]](https://s3.tradingview.com/f/FJz0T4MN_mid.png "Simple Trade Setup | HINDALCO | 23-12-2021 [ INTRADAY ]")
