HINDA trade ideas
HINDALCONSE:HINDALCO
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SHARP V RECOVERY IN HINDALCO !!!NSE:HINDALCO
What will happen next ???
Hint:- {
Today it faced again resistance @ its all time high..
it's a buzzing stock in market too...
it's Almost making double top...
}
Choose any one options from below
A) will it be able to shoot up again ??
B) will it fall from double top ??
Comment down your answers with justification ,Let's see who will be good @ prediction....!
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Hindalco in a parallel channelHindalco has been consolidating in a parallel channel for 7-8 days.
The support for the stock is near 550 levels.
If the stock gives a breakout on the upper side the achievable targets are around 600 and 620 levels.
The trade can give momentum,
Daily time frame is good as the consolidation is what we look for.
Wait for the breakout of the parallel channel and trade accordingly.
Support :- 550
Resistance :- 600, 620-23.
Hindalco Industries Ltd.Hindalco Industries Ltd.
Hindalco Industries Limited an Indian aluminum and copper manufacturing company is a subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India.
TECHNICAL ANALYSIS.
Time Frame - 1D
1. Stock made a Cup with handle pattern.
2. Stock retest the level of breakout.
3. Supertrend is positive.
4. Alligators are positive.
5. Stock traded above 20/50/100/200 MA.
FUNDAMENTAL ANALYSIS.
SECTOR: Metal - Non Ferrous
1. MARKET CAP - ₹ 1,29,616.92 Cr.
2. P/E - 29.45
3. P/B - 2.42
4. ROE - 2.07 %
5. ROCE - 4.41%
6. EPS - ₹ 19.58
7. CASH - ₹ 1,019 Cr.
8. DEBT - ₹ 20,184 Cr.
DISCLAIMER - All analyses are for educational purposes. it is not trading or investment advice.
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Hindalco good buy Signal !!HINDLCO : cmp : 573.75
Trading near the breakout zone of 570-580 . If it surpasses and sustains
above the level a buying movement could be possible in the near term.
Making higher highs for 3 days.
RSI & MFI trending up.
Buy on dips.
Accumulation zone : 550- 575
Profit booking zone may be : 598 - 640
SL 563/According to your risk appetite.
Positionally can move 675+
Sl 538 Dclbs
March Future as well as Option :March 580CE @ 16-18 can be look after.
If it opens below short term sl. wait for the reversal.
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally
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Intraday setup hindalco on march 10th Something huge is gonna happen in hindalco can you people able to track it :)…
See the chart and prepare your own trade
Always keep risk reward more than 1:2
Maximum two trades ..first allow the market to settle .. don’t directly enter be patient you can bang very big:)….
Try to accept the loses
Don’t take revenge trades
Disclaimer :- I am not responsible for your profit and loss and also I am not sebi registered