HINDALCO trade ideas
HINDALCO on the cusp of breakoutPrice is near overhead supply zone after breaking out from the symmetrical triangle formed after the strong uptrend.
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Buy HINDALCO INDBuy HINDALCO IND Above 398
For the Target of 407-421-430
Stop-loss One Day Close Below 20 DMA
HINDACLO NEAR TO BREAK OUT CATCH IF YOU CANAll Level Mark for ascending channel breakout
looking forward to accept your views.
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.
Swing tradeSymmetrical triangle Pattern
Always be extra cautions with breakout trade with confirmations
HINDALCO.. BUYFundamentally good script.. Can accumulate for the long term. The resistance line broke and the retracement is being taken. BUY.
Swing Opportunity in HindalcoGo Long above 385.05, for Targets of 399.15, and 413.25 with SL 370.95
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this the stock has given a Trendline breakout.
HINDALCOStock has given breakout from its Triangle pattern. Buy above 390, TGT 8 to 10%, SL 375. For educational purpose only. Kindly contact your financial advisor before entering any trade.
Invested 1L in HINDALCO - Will try to get 5-10% 👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 2000 Followers 🔥🔥
🔥 Strategy :
✣ Channel pattern breakout on 1M chart
✣ Good monthly consolidation and weekly too
✣ Good triangle pattern on 1hr and 1d both ( Took trade on Days close as I saw a resistance zone on 1hr that could potentially turn the stock back to same levels)
✣ Entry - 388
✣SL - 3% from the entry ( small SL )
✣ Target levels - 406, 426, and New highs
✣Also, the metal sector is making a symmetrical triangle ( CNX METAL ) on the D chart and is on the supportive line of the triangle pattern
✣ Good luck with the trade think wisely and ten times before taking a trade guys and always do what your system says and what risk and reward say to you :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions, and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Hindalco good moves on the way!NSE:HINDALCO has reversed from on going correction phase past few months. The retest of this move that it showed today will decide for good entry around Rs380
