HINDALCO: Forming Wolfe Wave 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
Hindalcotrend
Hindalco taking support from trendline (Swing Trade)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.
Simple Trade Setup | HINDALCO | 25-10-2021 [ INTRADAY]NSE:HINDALCO
Observations:
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.
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Trade Setup for Date 25-10-2021:
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 mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
HINDALCO HIGH PROBABILITY SHORT TRADEHindalco 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)
T2 : 464.0 (IF STOCK GIVES CLOSING OF 15 MIN CANDLE BELOW T1)
HINDALCO INDSHindalco 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 along with stoploss and targets
wave structure could be like this
macd in daily in negative croosover
macd in hourly started down tick
rsi in hourly below 60 now
dmi are converging in hourly
Bearish RD in rsi in hourly
Bearish RD in macd in hourly
Bearish RD in stochastic in hourly
BKT
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
Simple Trade Setup | HINDALCO | 20-09-2021 [INTRADAY]NSE:HINDALCO
Observations:
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.
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Trade Setup for Date 20-09-2021:
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 mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
Simple Trade Setup | HINDALCO | 06-09-2021NSE:HINDALCO
Observations:
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.
Please refer below chart : Daily time frame.
3) On 5min intraday chart it had made bullish flag and pole pattern and gave breakout of it in 2nd half on 03-09-2021 and also took support from 460 level. Now 460 level will work as immediate support range.
Please refer below chart : 5min time frame.
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Trade Setup for Date 06-09-2021:
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 mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Simple Trade Setup | HINDALCO | 02-09-2021NSE:HINDALCO
Observations:
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.
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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 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Simple Trade Setup | HINDALCO | 11-08-2021HINDALCO
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.
Below is the chart on Daily Time frame. As you can see it has breakout kind of rounding bottom and now it is testing the breakout level of 425. If it remains and takes support from 425 then for positional trade it will be good buy entry. And it it closes above 436 level then it will be considered as a reversal of downtrend.
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Hope I made it simple to understand the levels and trade setup.
Do comment your doubt or suggestion.
All the best.
HINDALCO CUP AND HANDLE PATTERN | TRADE SETUP FOR 29-07-2021NSE:HINDALCO
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.
Do comments if you have any doubt or suggestion.
HINDALCO CUP AND HANDLE PATTERN BREAKOUT| TRADE SETUP 28-07-2021NSE:HINDALCO
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 profit at 420 level.
As 420 is having highest call writing addition today. And if it keep on trading above 420 then the next target will be 425-428 zone.
For the sell side once it breaks the 410 level with bearish red candle then go short till 1st small target 407 and then 400.
Hope you had a good profit from this trade today. Do comment if my ideas are helping you to understand trend, levels and price action.
Let me know if you have any doubt or suggestion.
HINDALCO | LEVELS AND TARGET | 20-07-2021NSE:HINDALCO
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 resistance at 400-403 range. Once this range broken then aggressive trader can took position till target of 407.
For the safe trader it it better to take position after 407. Targets are mentioned on the chart.
Below range of 392 it can give a safe short/sell trade. Let's see how price action works tomorrow.
All the best for the trading tomorrow.
Do comments if you have any doubt.
Hindalco - Channel pattern🔴DISCLAIMER
***** 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 its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Hindalco Industries Ltd : Upside or Downside Momentum ? CommentChart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer:
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 only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.