HINDCOPPER
#hindzinc #vedl #hindcopper #coalindia #xauusd #xagusd #steel #HINDZINC
NSE:HINDZINC
NSE:HINDZINC
HINDZINC
CMP 304
Target 390+
SL 285
TF < 6 months
RR > 4
Return 30%
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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HINDCOPPER NEAR STRONG RESISTANCEStock has spent time near strong trend line and has a good reaction to the the trend line
RSI has above 60(Good Strenght)
OBV has given breakout prior to price breakout
Stock has outperformed Both benchmark and Sectorial Index in 1 Week and 3 Month
Higher Trade and Delivery Quantity on 13 Jan
HINDCOPPER ::: BULLISH :::DATE: 04 JAN 2022
INSTRUMENT: HINDCOPPER
TREND: BUY
TYPE: POSITIONAL.
TIME FRAME: WEEK
CMP: 133.05
BUY ABOVE: 132.95
STOP LOSS: 129
TGT 01: 143
TGT 02: 150
RISK DISCLOSURE:
We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
Hindcopper 1D timeframe 40 % returns opportunity going long1.Weekly time frame major support at 50 % fibnocci level
2. Double bottom(DB) at that level in 1D time frame it has been breached V
3. Major trendline was broken
4. If price comes back to give a retracement at golden ratio of fib 1.618
5. We may go long with agressive limit order at 130.5 which would give a 2618 tradding oppurtunity
6. Target may go at retest of highs
7. Stop loss 1 ATR below the DB around 101 and target at highs of 187
8. Risk reward is almost 1:2 with 40 % returns
All the good luck...
HINDCOPPER :::: BULLISHDATE: 30 MAY 2021
INSTRUMENT: HINDCOPPER
TREND: BUY
TIME FRAME: DAY
CMP: 174.05
RISK ENTRY BUY ABOVE -176
BUY ABOVE: 184
STOP LOSS: 164
TGT 01: 197.15
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
HINDCOPPER - Breakout & Re-test structure - Monthly chartThe above analysis is done purely based on price action and chart patterns.
The analysis is done on monthly charts, hence it may take the price few weeks to few months to reach the target.
Logic as well as the trade setup is shown in image itself. The level which was earlier acting as major resistance, may act as major support for price to move up.
Entry can be done at CMP to any pull back. SL can be around 100. Targets are shown in image as well.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
To understand the re-test structure more clearly, check out the ideas linked here - APOLLOTYRE , SCI , SBICARD
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Possible Elliot Wave Count - Hindustan CopperHindustan Copper has completed waves 1-3 and currently in wave 4 so accumulate anywhere between 97-89 with stop loss 73 for targets 116-140. There is a possibility that the move from 40 odd levels could be wave 1 of a new impulse or it could be wave C in an ir-regular correction. Either way minimum Hind copper has to make one more high above 110 to complete the 5 wave structure so good stock to buy on dips for minimum target of 116 which could extend much higher as well.