HINDA trade ideas
Hindalco India : Study & Forecast Hello beautiful people,
I am going to present hindalco future trend in near future, as we can see hindalco has broken the tradeline which was the strong support for the uptrend , short-covering also done to the respective tradeline.
In 4 hours chart we can see the rejection candle formed but confirmation yet to be done any red candle on 4 hours chart will indicate a clearer downtrend for hindalco. However it is still taking support of 100MA that can play major role here .
Few target that can be seen in hindalco are given below
435
430
425
Thank you so much for paying attention. Pls follow me for amazing things in future
Note -
This is just an educational post I do not recommend any buying or selling by the post, All the investors are advised to get in touch with their financial advisor regarding any kind of buying or selling advise on the posted idea.
Hindalco Weekly Elliott Wave Counts Hindalco charts are reflections of Aluminium Price moves only difference is Hindalco did a little more than 50% Retracement of Wave A fall where as Aluminium did very small retracement ideally Hindalco should head towards 235-200 levels in Wave C in next few months.
Reason for why should you watch Hindalco !!Hindalco has given a breakout today & it's also at a good level to catch
Why Hindalco is a Buy? NSE:HINDALCO
Reason for Buy:-You can see metals are Inversely Proportional to Autos.
Even as of now, metals are standing stronger when volatility comes in the market.
This gives the Idea that the demand for metals is more than the supply, making the price move Higher.
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HINDALCO LOOK GOOD FOR LONG (1:17 R:R)hindalco, good for long with very good risk reward of 1:17, you wont get this type of RR easily.
entry- 386.2
stopped- 379.5
target - 494
you can check my previous trades most of them are in good profit.
now i will provide you best RR trades, minimum 1:5 R:R trades,
low risk high reward.
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thanx.
HindalcoPrice is consolidating in a narrow range. Sell below 447 with the stop loss of 451 for the targets 443, 439 and 435. If price show bullish sign then can buy above 453 with the stop loss of 449 for the targets 457,461 and 464. Any one who trade with strategy and manage risk can become a profitable trader.