HINDCOPPER formed a falling wedge pattern with multiple test of support and resistance. Moreover there was good runup prior to chart pattern formation. Volume were relatively low when price were falling. However upon breakout there was strong volume. Currently resistance is being retested. Good opportunity for long trade with favorable risk reward.
Disclaimer: I am not a SEBI registered consultant. This is not a buying or selling recommendation. Please consult your financial advisor before making any trade. Above information is just my view and is meant for educational purpose only.
There is strong buying pressure given the formation on wick on daily chart. Can hold for further gains :-)
digijagan
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Hope you guys had a good 20% gain in a short term. Good time to book some profits as the price has hit resistance. If it breaks the resistance area further 10% is quite achievable provided environment is favorable.