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level mentioned on the chart
2.stochastic rsi overbought
3.macd is in mood of downtrend
4.macd histogram already started to go down
5.a very strong candlestick pattern (hanging man)
6.high risk to reward ratio
7.elliot wave still holding
short term view
Triangle formation. Target 280 in short term. CMP 250. SL 235.
Levels in the chart
Notes on the chart.
Hindalco-bouncing from support and 200 EMA daily chart
Entry at 250 with first target of 259.90 and second target of 269.10
Head and shoulders pattern has been observed on 30 mins time frame. Hence this could be used for a small swing trade.
Entry - 265
SL - 270
T1 - 260
T2 - 255
For study purpose.
BEARISH AB=CD in HINDALCO , reversal from RESISTANCE
Sell below 274.50 tgt 272-270 Call is based on dark cloud candle stick pattern.
levels mentioned in the chart
Hindalco Bearish Bat
Short below 269 with 280 SL
T1 - 267
T2 - 260
T3 - 254
T4 - 248
T5 - 240
Will like to go short on the above stock , with stop loss of todays high !
Its short trade we have brekout at the reisitence line of 260 and
Buy @ 265
Target @ 275
SL @ 260
Buy Hindalco @ 263.50 with SL of 260
Hindalco has been respecting the neckline for a few months now.Currently on the nckline, after making a higher low.
Tragets and Stoploss mentioned in the chart.