NSE:HINDALCO made triple top at 200
Looks good to go counter trend at 194 pre empting failure of pattern reversal for target of 188-180
can use Resistance TL as stop
Risk trader can add more short once TL break
Hindalco Industries Excellent Long Setup
HINDALCO CMP 171.95 (20 JAN 2017)
HOURLY CHART SHOWING - SHORT TERM NEGATIVE TREND
RSI - <50
MACD DIVERSION TOWARD NEGATIVE
MOVING AVERAGE - BELOW 50
TARGET 1 - 168
TARGET 2 - 165
TARGET 3 - 163
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Hindalco Industries with a target of Rs 176 and a stop loss of Rs 159
WE ARE CURRENTLY IN WAVE 4 AND WE HAVE ALREADY REACHED 23 % MAY BE SOME MORE DOWNFALL UPTO 150 RANGE & THEN WE WILL HAVE AN UPMOVE FOR WAVE 5
HINDALCO - LOOKs LIKE A UPSHOT - PAPER TRADING
Hindalco is giving nice technical breakout and can be bought for short term rewarding RR 1:4.
If T1 is hit will update you for T2.
at T1 exit 50% position and rest trail with breakeven.
Hindalco is a short around 160 with target 100 in 5-6 months
Can it break out of this triangle.. close above 167 can infuse new life into this..
HINDALCO to GO LONG AS LONG AS ABOVE 156
TGT about 168-170
Reversal of sorts at the higher end of the channel. It should correct upto 125. Extremely favourable risk reward trade. Stoploss at 138.5
HINDALCO TO GO LONG - TGT=130.55
It is been trading in channel for few days as showed in the 30mins chart, it is on the move to the downside and I'm looking for a breakout in the 30 mins chart.