A previous gap down openKeep SL wisely. On 11th March there was a big gap down opening. Have been trading in the same zone, but at the same time strong upward move. That's why 2 probable roads for the next target.
HINDALCO trade ideas
HINDALCO INDUS.THE OVERALL NIFTY METAL INDEX IS AT A CRUCIAL RESISTANCE POINT , NOW HINDALCO INDUS. IS AT RESISTANCE POINT , THIS VERY CRUCIAL RESISTANCE FOR HINDALCO IF I HOLDS THIS PRICE IT MOVE ON FUTHUR TOI TEST THE VPOC OF 159 , IF THE BELOW TREND LINE BREAKS IT CAN GO TO TEST THE PREVIOUS POC OF 145/140 , MONDAYS PRICE ACTION IN STOCK CAN DEFINE THE FURTHER PRICE MOVEMENT OF STOCKS , ON MONDAY IF THE PRICE BREAKS BELOW TREND-LINE WITH SOME VOLUMES THEN ON NEXT RETEST WE CAN LOOK FORWARD TO SHORT FOR TARGET OF AROUND 145/140 AND IF IT CROSSES RESISTANCE AND SUSTAINS WE CAN BUY FOR RETEST OF PREVIOUS VPOC LEVELS OF 159
BUY HINDALCO For 132 136 140 143 150 153 161 169 SL 113BUY HINDALCO For
132 136 140 143 150 153
161 169
SL 113
TF 1 Month
Hindalco Industries Ltd (Hindalco - NSE) - ABC zigzag wave patteHindalco Industries Ltd (Hindalco - NSE) is in ABC zigzag wave pattern in 60 min time frame from major low and it is now in 1st of C wave up, which is about to end. In weekly time frame it in in choppy WXY wave pattern and completed downside correction. Wave 2nd will be good entry for C up.
All Conditions MatchingKUMO Twist, Chikou Free, Tenkan above Kijun, Price above both Tenkan and Kijun. Can go Long Freely
looking attractive for investment purpose. (for few months only)we are looking all time chart of BPCL.
HINDALCO INDS TRADE SETUP HEAD AND SHOULDER +Elliote Wave Hello Guys, Sorry due to busy schedule not uploading any setup from past 24 hour
Hindalco Inds Good for buying For short term profit
when you look at 15 Min chart you see a head and shoulder pattern for target 127 I mention below
According to elliote wave principle now we are riding on 5 the wave which is the last wave if it moves further upward we can see the level of 130-135 easily
Thanks
Hindalco - The traumatic side ways moveWhen in Doubt refer Eliot Wave. Hindalco seems to be consolidating in area around price range of 117-120. With a resistance in the zone of 122-125 zone. Bollinger band of Hindalco in 15 minutes charts is squeezed. The sideways moves around 117-120 has been very traumatic with no clear views on the next move.
Hence going back to Eliot waves which suggest that last week move from 115-130 is the first wave and the retrenchment towards 117 zone is the wave 2. The next wave is most likely toward 145 range. Hence would be suggesting to go long. Stop loss if any could be around 112 level. For sure its going to be painful journey.
Would suggest to please please provide feedback on any other ideas to trade from the long term perspective.
Trendline breakout HINDALCOClose above 205 can see the levels of 210-213-216. RSI trending above 65 levels.
View negated below 203 closing.
HindalcoOnce a candle gives a close below low of the candle that has broken down below the channel one can go short and keep riding untill it closes above green EMA line, be watchful of this opportunity
