Hindalcotrend
hindalcoHindalco (NSE Cash)
Market cap:785.102B
Vol: 5.322M
LTP: 360.80
Support: 349.60
Resistance: 369 / 375
Daily charts (long term)
The candle that is being made today looks like a reversal because it has bounced back after taking support at the 20 DEMA which is at 349.33
MACD is neutral as it is in the bull zone but the bars are red and there is a slight reversal as well.
RSI is showing a reversal as well after taking a support at the 55 mark which is a good signal.
***Can buy for short to medium term investment
Hourly charts (medium term)
A marubozu white candle which is a bullish candle is being formed at this point.
Volume is a big green.
MACD has a green bar after a long time and a small reversal towards the bull zone is seen.
RSI is very strong and trading above the 50 mark.
***Can buy for short to medium term investment
15m charts (short term)
a strong green candle followed by a confirmation green candle.
Volumes are neutral.
MACD is strong green and in the bull zone trading in the bull pattern.
RSI has resisted the 70 mark so we might see a small correction before the stock tries to break the jinx.
***Can buy small qty.
Short HindalcoI have given buy call to enter from 350
and it had given 7.5% in just 3 days.
So, kindly book 80% profit and hold 20% for the final target 385 and 400
. we will reenter after 380.
But if I see in short side RR is too good .
if you see any 15 min red candle on 19th March then short . SL will be just above the high of that candle.
Hope You guys made some money.
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Short HindalcoI hope you can now see how HINDALCO represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.