HINDA trade ideas
HINDALCO --INTRADAY SETUP -- 16/02/2022HINDALCO pick as intraday as on 16/02/2022.. Technical trend seen upside on 15 min chart, Recent bottom formation at support line as well as short term Resistance breakout clearly seen on chart , RSI move above 60 as bullish setup ON INTRADAY .
Intraday support seen at 529-530 so this will also buy level if stock make some correction on intraday.
Resistance at 540-550 this will be target on intraday .
BUY HINDALCO @ 533.85
TARGET 540-550
stop loss 525
**THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk. !
HAPPY TRADING. !
Cup & Handle Breakout for more than 5%DON'T HAVE TIME TO MANAGE YOUR TRADES? | Cup & Handle Breakout in HINDALCO
- Take BTST trades at 3:25 pm everyday
- Book profits within first 30 minutes of the market opening
- Try to exit taking 3-5% profit of each trade
- SL can be taken when 5/15 min candle close below 44EMA
Now why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Buy Today, Sell Tomorrow: HINDALCO for more than 5%
Hindalco is at an important area…Hindalco is at an important area…
Reasons/Traits :
• Cypher bullish harmonic pattern formation seen
• Below 20 and 50 EMA
• Trend breakdown retested and an inside bar formation seen today
• RSI, MACD and Stoch are in down trend
• Earlier channel breakout failed
What can happen next :
Scenario 1 : Price sustaining above 460 levels can take it to 472/488/510/547 (to complete cypher harmonic bullish pattern)
Scenario 2 : Price break down below 460 can take it down to 454/438/425/410/400 levels
Important levels are mentioned above and it doesn’t mean it will achieve all one by one … price can hover along these prices and due course of time will tell us the price movement between these levels. 460 is important level and breaking it can take the price down or it can bounce back.
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
[ INTRADAY ] HINDALCO LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Cup and Handle?CHART -> HINDALCO DAILY SETUP
Cup and Handle Breakout in Hindalco daily time frame.
If market supports and first target, which is all time high of 551 is breached, we can see 625, which is target of cup and handle.
Q3 results on Feb 10, 2022 to be looked out too.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.