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FarhanShaikh

HINDALCO - Short setup

Short
HINDALCO INDS (NSE:HINDALCO)  
FarhanShaikh  
NSE:HINDALCO   HINDALCO INDS
Trend Analysis Chart Patterns nseindia nifty50 HINDALCO priceactionanalysis Technical Analysis rsidivergence shortsetup
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trendanalysis chartpattern nseindia nifty50 hindalco priceactionanalysis technicalanalysis rsidivergence shortsetup
Stock is currently trading in third stage of market cycle .
1-Accumulation 2-Rally 3-Distribution 4-Rejection
currently at the peak , at the overbought zone. Has formed a broadening pattern on the top which is rejected by a overhead trendline.
RSI DIVERGENCE
Looking to short once the Chart pattern is broken and retested .

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