NSE:HINDALCO
Today HINDALCO Tested previous resistance of 396 level and that resistance turned in to support today.
This 396 resistance range was breakout with big bullish candle on 15-07-2021. So this type of correction was expected.
Tomorrow, 20-07-2021, if it sustain to trade and follow trendline then there will be up movement. It can face the first...
When scrip is doing so how an I help!! After a little bit of melting,it is again solidifying. One must be aware when he is going wrong & prepare to take advantage of changing scenario!! It is to be remembered that there are always valid alternate wave count to help you.NOW BUY >395/96 with sl <387(closing).
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
A short term buy call for Hindalco.
Current market price in good demand zone and rejected lower trend line of channel.
MACD shows good crossover.
9/21 EMA crossover happens.
short term buy with a target of 470
Hindalco has been falling from its ATH of 427.50 from 10th May onwards and has made a Falling Wedge Pattern.
It has broken above with good volumes but the point to note is that it has gapped up and made a spinning top like candle in the 1Hr and 2 Hr candles which is half of the Evening Star Candle Pattern. So in the short term it could see a reversal.
So it...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer:
This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
The above references as an opinion and is for information purposes...
A bullish engulfing kind of pattern has been formed in D chart.
A trendline BO done near 386 lvl.
Closing above previous high.
TGT 405/413
Sl 386 clbs
Option Strategy : July 395 CE @ 8-11 TGT 16 sl 6.5
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
Price is near overhead supply zone after breaking out from the symmetrical triangle formed after the strong uptrend.
Keep an eye!
Keep supporting! Keep learning! Keep earning!
