HINDCOPPER : Riding the Liquidity Zone for a Strong Upswing1. Hindustan Copper Ltd. (HINDCOPPER)
Current Price: ₹283.45
Chart Observations:
The chart showcases a corrective wave labeled as A-B-C, where Wave (C) has approached a liquidity zone (₹252–₹268). This zone is supported by a deep retracement from the last swing low, aligning with Fibonacci 113%–127% levels, making it a potential demand zone.
A Break of Structure (BoS) at the earlier swing low indicates seller dominance; however, the liquidity zone offers a counter-trend opportunity.
A sharp upward projection anticipates price moving toward the target zone between ₹364 and ₹378.
Buying Levels:
First buying opportunity: ₹268–₹283 (inside the liquidity zone).
Secondary aggressive entry: On confirmation of a bullish breakout above ₹292.
Stop Loss:
Place the stop loss at ₹252 . Use a dynamic trailing stop-loss strategy by adjusting it above the next immediate swing low as the stock advances.
Target:
First Target: ₹364
Second Target: ₹378
Pro Tip to Avoid SL Hunting: Monitor for rejections (e.g., long wicks, higher lows) at ₹268 levels before entering. Wait for confirmation of demand in this zone on shorter time frames like 1-hour or 4-hour charts.
Disclaimer: This analysis is for educational purposes only . Investments in stocks and financial markets involve risks, including the loss of principal. Always conduct your own due diligence or consult with a certified financial advisor before making any investment decisions.
