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...
What will happen next ???
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 ??
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.
15 Min Time Frame :
1. Hindalco may give some correction from here
2. Look for trade setup in Intraday
> This analysis is for educational purpose only.
> Keep an eye on global market as well, trade as per market condition.
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...
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...
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. ...
ENDING 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,...
Hindalco 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)
Hindalco 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...
1) On Daily Time Frame:It made strong bearish Candle but taken support from 10DMA. Also closed just above critical level of 470.
10DMA is placed at 471.22 level.
Please refer below chart : Daily time frame.
Trade Setup for Date 20-09-2021:
1) Don't Jump in to trade at the...
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...