NSE:HINDCOPPER1! looking strong at this point with the formation of Cup Handle pattern with justified volume support.
Obviously the SL point is too much but for that I would say this is the price level we can expect in down market.
Disclaimer: This is the idea I am sharing for knowledge purpose for me and others and not for recommendation purpose.
HINDCOPPER DAILY CHART
Breakout @ 165 Target 199
This stock has witnessed an ellipse breakout @ 165, target as projected by MOB.
Its only an observation & not any suggestion.
- Hind Copper is trading near very important resistance zone and multi year trendline
- Very good volumes can be seen
- Aggresive Future long build up is seen in past few days
- Stock is outpeperforming Nifty in both 1W and 3M period
- Wait for the trendline breakout for entry(above 200 level) for a target of 270
*Hindustan Copper Ltd.*
C&H Formation on Decadal Basis.
Stron Price BreakOut Sustained.
RB Formation at 268 levels will Trigger in on Decadal Basis.
Strong Vol Consolidation & Continued Heavy BuiltUp.
Resistance @ 234 / 269 /293 / 325
*Trail SL with Upside*
*Book Profit as per Risk Appetite*
Copper is coming out of Cyclical nature. EV Play / Booming RE (ACs) /...
Hindcopper - Elliott Wave Count
Hindcopper appears to have completed the correction. Expecting bullish impulse wave with current low at 135 serving as stop loss.
Please exercise caution when trading as this information is for educational purposes only.
NSE:HINDCOPPER NSE:HINDCOPPER1! BSE:HINDCOPPER BSE:HIND1!
STOP losss 🛑 161
Entry CMP or choice
Breakout trading implementation:
1. **Identifying New Trends:** Breakout trading helps traders identify the beginning of new trends by focusing on price levels where an asset breaks out of its historical trading range.
2. **Volatility Indicator:** Breakouts often occur when there's increased volatility in the market....
The counter is looking for a breakout, golden crossover done, above its basic MAs. formed a inverted HandS, need to see a close above 160 on daily basis it to rust to its ATH.
BUY
HINDCOPPER
Buy Entry @ 109
Target @ 155
Stop Loss @ 93
Risk Reward 1:5
Note: Please leave comments for any query.
Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.
Best of luck..
Shakthi
Hindustan Copper Limited is a government-owned mining company engaged in the exploration, mining, and production of copper and associated products. Before entering into a long trade, thorough research and analysis of the company's financials, industry trends, and market sentiment should be conducted.
