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.
Hello traders, the last stocks are performing well in this short time bullish market for now.
Hindalco has given breakout above 460 levels and the volume shows institutional activity so I'll consider this a high probability trade.
It is also a ascending triangle breakout, so it gives us another bullish trend confirmation.
Buy above - 469
Targets mentioned in the...
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...
NSE:HINDALCO
Observations:
1) On 1day time frame, it is between 50DMA and 100DMA.
In last session it closed just at 100DMA.
100DMA is placed at 455.33 and 50DMA is placed at 467.45 level.
Immediate Breakout level is 460.
Please refer below chart : 1day Time Frame.
2) On 1hr time frame, we can see it is forming rounding bottom pattern with...
NSE:HINDALCO
Observations:
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...
In the process of Wolfe Wave formation. 450-440 is a very good accumulation zone. The reason is the 100 DMA , which has acted as a very strong support earlier and the Fibonacci retracement (Gann Level & Golden ratio level). Wait for it to respect the pattern and confirm a reversal.
Then the targets will be update in update idea section.
CHART & ANALYSIS - ADARSH DEY
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.
![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 ]")
![HINDALCO: Simple Trade Setup | HINDALCO | 13-12-2021 [ INTRADAY]](https://s3.tradingview.com/y/YX6IKOmV_mid.png "Simple Trade Setup | HINDALCO | 13-12-2021 [ INTRADAY]")
![HINDALCO: Simple Trade Setup | HINDALCO | 15-11-2021 [ INTRADAY]](https://s3.tradingview.com/3/3ltAc5LR_mid.png "Simple Trade Setup | HINDALCO | 15-11-2021 [ INTRADAY]")
