Hindalco: Breakout Retest on CardsAfter a big rally, Hindalco is showing signs of 1st sustainable breakdown below 21EMA...as long as it stays below 21 EMA a test of 55SMA and breakout retest is on cards
HINDALCO trade ideas
HINDALCO FLAG AND POLENote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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HINDALCO | Flag pattern - Looks good for doublingHINDALCO | Flag pattern - Already multi year breakout occured, momentum looks good for doubling
CMP : 331 (Dip till 320)
SL : 305
HINDALCO Technical chart analysisHINDALCO trading in an Rising wedge pattern, a clear pole and flag is visible in chart.
If breaks above good to go long..
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Hindalco ViewHindalco :
Rising Channel Breakdown done
Weak only below 329 (SL 335)
(Head and Shoulders Breakdown Possibility)
Else , Can bounce from 330 to 333 range
Hindalco: Breaking out of a 12 Year ConsolidationHindalco is breaking out of a 12 year consolidation. Given the run-up in base metals (copper and aluminum) and view on DXY being weak, we thing this breakout is here to stay. Stock can see re-rating towards INR 500+ in days to come.
#HINDALCO - CHANNEL BREAKOUT#HINDALCO - Breakout from parallel channel on monthly charts. Also seen is good volume. RSI is overheated. A bit of cool-off will be good for further upmove in this commodity cycle.
Watchout for Resistance breakout - INTRADAY ideaThe stock looks good above 343.1 level for a target of 349.
