Target:- 646
Stoploss:- 436
Stock has already touch the support line, take support and going upward. This is clear indication of short term bull run. So we can take long position there.
Hindalco gave a strong closing on Friday and broke the triangle pattern. Can be bought for a target of 458. CMP-437. SL isn't required for this stock but if anyone wants to keep it, it can be 412. HIT the like button if you liked my analysis.
The stock was given 2 days ago at 438 and today it hit the target of 458. Do follow for more swing trading ideas. For reference, I am attaching the idea suggested below.
HINDALCO formed a Descending Broadening Wedge Pattern on 4-hour chart after the price peaked.
Right now price is at resistance and is on the verge of giving a breakout.
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 8-10 times.
risk: 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...
On June 13,2021 I shared to buy HINDALCO
392 to 400 is buy region. 427 is the resistance. once it crosses that sky is the limit. The breakout may take some, weeks to months.
On July 15, 2021 it came in the buying range and after that it gave 18% Return in 1 Month.
Hindalco has broken the Resistance Level at 426.95 and is has already retested the same. if it sustains above the Resistance level, the stock will rise
Some people say that pivot points are sufficient to identify trend and some say look at the other indicators like MCAD, Supertrend, etc. I would say everything works and nothing works. One has to use the right tool at the right time to identify trend, one tool or strategy will not work in all scenarios. Today after breakout best intraday call is Hindalco but the...
#HINDALCO entry and exit levels on the chart (refer black/blue lines). Place SL@0.4% of the entry price. Zones (in pink/orange) are the places where it's unsafe to enter. #INTRADAY
![HINDALCO: [ INTRADAY ] HINDALCO SHORT BET](https://s3.tradingview.com/b/bBQkQ6dY_mid.png "[ INTRADAY ] HINDALCO SHORT BET")
