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MGL looks promising to sell below 1182NSE:MGL Today MGL RSI shows bearish divergence. Couldn't break the 1190 resistance levels. Stock was trading sideways and with a bit higher high formation but the RSI was making lower highs. This is a sign of weakness in stock. Stock is not ready to go up at this moment. One correction is still required. Keep tracking of this stock for tomorrow as MGL looks promising to sell below 1182. Target level are marked in Green line. But don't forget to keep stop loss at 1190 level.
NSE:MGL
by Trading_hawk
Hindalco Ind. could be a good short term investment opportunity!Hindalco Ind. has consistently been honoring its resistance level and the support level. Higher highs and higher lows showed since 25th February 2021 indicates the uptrend for the stock. Bullish Engulfing candlestick pattern formed at the resistance level with the increasing RSI and recently occurred MACD crossover could be interpreted as the indicators for a long call with a Stop Loss at 344 which is a Fibonacci Retracement level (0.236). Considering the above technical Indicators Hindalco Ind. seems like a good buying opportunity for a short term investment horizon i.e. 1 week to 1 month.
NSE:HINDALCOLong
by Sarvesh_Thite