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.
Short
colpal colgate palm BEARISHCatching the pattern before it is formed is of key importance if you trade on technical analysis!
Descending triangle and head and shoulder in 15 min time frame
plus
inverted head and shoulder in longer time frame
these gives multiple confirmation for the short signal on colpal
Short ITCThis is a monthly chart ananlysis
I have various confirmations to short ITC...
1 . previous support may act as resistance
2. it is at 50% fibonacci line where it has given a long wick..showing more selling pressure
3. the move ending at 50% fib level is of same length of previous move .....
.
Lets see what happens this is just a view....