HINDA trade ideas
Hindalco Here, we have attached the Technical analysis chart for Hindalco,
Hindalco is in the range which have drawn in the chart and once it tried to break but unfortunately it couldn't and many SL got hit and so that we have noticed huge sell off then, and the price moving between range continued again ....
In the chart we have mentioned support and many important levels which will definately help you ...
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Hindalco sell given on 22 jan 17 points profit 508 Target On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Hindalco, big target and small SL perfect risk:rewardNifty Metal is almost on the verge of breakout... so will pick the index movers.. Hindalco.
symmetrical traingle formed..
Green : Targets
Orange : Stop Loss
Stock is volatile and volumes in good in F&O so you sell some put options ...
SL - below 390
HINDALCO : Cup and Handle BreakoutA cup & handle Breakout in conjunction with Triangle Pattern Breakout
Retest is pending for the triangle pattern breakout.
Hindalco is moving based on the support line support for long.
Waiting for a retest to enter with SL below
closing of the support TL
One can enter now as well with 50 % qty just not to miss the trend for targets of 510/550/630.
DISC: Only for educational purposes. please consult your financial advisor before entering.
HINDALCO INDS BULLISH# HINDALCO INDS #
# LONG TERM VIEW BULLISH
# BUY ABOVE : 505
# TG : 600 - 620
# CBSL : 460
# R : R - 1 : 2
This is not an investment advice and also please note this is only for education purpose.
So before investing any single rupee, please do your own research according to your risk taking capacity and after that do invest and book profits on right time.
Hindalco_On The Verge Of All Time High_Giving Breakout After Bre*Safe Target 622 within next week*
#Breakout:
Identification: Look for a significant price level, such as support or resistance, where the price has historically struggled to move beyond.
#Confirmation: Wait for the price to break decisively above (in the case of a bullish breakout) or below (in the case of a bearish breakout) the identified level. This breakout should be accompanied by increased trading volume to confirm the strength of the move.
#Retest:
After the breakout, wait for the price to pull back and retest the broken support or resistance level. This is an opportunity to enter a trade if the retest suggests that the breakout is valid.
Entry and Stop-loss:
#Bullish Breakout:
Enter a long position after the retest confirms support turned into resistance.
Place a stop-loss order below the retested level to manage risk.
#Bearish Breakout:
Enter a short position after the retest confirms resistance turned into support.
Place a stop-loss order above the retested level.
#Target and Risk Management:
Set a target based on the expected price move after the breakout. This could be determined by measuring the height of the pattern that led to the breakout.
Use risk management techniques to determine the position size based on your risk tolerance.
#Monitoring:
Continuously monitor the trade to assess its progress and adjust the stop-loss or take-profit levels if needed.
#Additional Confirmation:
Consider using additional technical indicators or chart patterns to confirm the strength of the breakout and retest.
Can Hindalco be left behind?Metal sector when turning up,Hindalco can n't be left behind.
This chart has been with me since long.
Immediate target minimum 577 can be reched with in few days.
Analysis is from january 22.
1st wave being a leading diogonal.Structure being 5+3+5+3+5
There after retracement of 2 nd wave which 61.8 percent of 1 st wave.
Now 3rd of 3 rd wave is in progress.
Minimum of 577 is seems to be assured.
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#Hindalco Multi Time Frame viewThis post covers Multi time frame analysis. On monthly tf Hindalco gave a multi year resistance breakout in 2021 Feb and from there it went on to become double.
During June 2022, it corrected and retested the same trendline resistance which now became support.
Weekly TF :
On weekly TF; it is making HL since Covid Low and has been consistently taking good support around 200 ema on weekly tf..
Currently consolidating in a triangle and the volumes are rising and last week's volume are highest since Nov 2022.
RSI is also showing a sign that it will give a breakout soon
Daily TF :
On daily tf; good accumulation + previous BOF of the IB on 29th May with less volumes. It did a bull trap and then came back into the came range again.
However, it has again given breakout and of the same range and the volumes are bit higher with RSI & MACD both giving upticks.
Also, last friday it made a open low with a breakaway gap. A good signal overall of strength coming back in this counter
Hourly TF:
On hourly tf; RSI is bit overheated - so any pullback towards lower support may provide a good short term trade.
However as larger trend is looking it is finally turning tide towards +ve side; overall looking very good now with smallest possible risk
HINDALCO LOOKING GOOD FOR A BUYHindalco has created a bullish pattern, given breakout of recent high @ 508 and sustaining comfortably above that level.
Looking good for a buy @ CMP 515 and add if comes down towards 508 - 510 levels for the upside marked targets on the chart until 490 is intact on the downside.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!