HINDALCO FOR 19 SEPTEMBER 2022As in the chart, we can see that HINDALCO successfully achieved its previous breakout zone but started consolidating at the level of 412 - 450. It created a box pattern. based on these levels we are expecting a gap-down opening which can lead it to up to the level of 400.
expected price opening to be around 412 to 410
THE FIRST TARGET ON SELL SIDE is FRIDAY'S low which is 405.
For the BUY Side, it must have taken the support of 412 which makes it hold that level and continue to be in the consolidation zone.
further buying is possible only when it breaks the level of 450.
NOTE- If open flat and try to trade in less quantity as it can respect the support level.
selling side can be possible only trying to go below 412 or 410.
level 405 (previous low) is a 50 DMA line on that level so it can go for a u-turn from that point if that break we can hold for the lower point.
