HINDA trade ideas
Hindalco Long buyOne can see a perfect W pattern in Hindalco. Wait for the break out and we may see a good rally in Hindalco. Today Q4 results will also get published for it.
Disclaimer: This is just for information and education purpose and not any kind of investment or trading advise. Consult with your financial advisor before making any investments.
HINDALCOHindalco Industries Limited an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India. The company has annual sales of US$15 billion and employs around 20,000 people. It is listed in the Forbes Global 2000 at 895th rank.
HINDALCO (NSE) Will bounce back !Hindalco is on the verge of a bounce back from a support zone. Can be good for long once if it bounce back and breaks the 2nd target of 500 . It is having a support zone of around 429-437 in a HINDALCO (NSE) daily time frame . This idea is for learning purposes only, if you want to trade then trade with your own risk, proper money and risk management. And always trade with a stop-loss. Happy Trading !
Hindalco Trend AnalysisChart shows clear downtrend in Hindalco.
Strong bullish divergence in RSI on both daily and weekly timeframe hinting towards possible retracement.
Expecting key support around 455 level for a retracement till 540 level.
After which it will head lower towards 390 level to form a zigzag.
That will be the best area to accumulate for long term positional trade.
For short term swing trade:
Buy around 455
Target around 540 (18.5% ROI with 3.6 R:R)
Stop loss @ 430
For long term positional trade:
Buy around 390
Target around 765 (96% ROI with 10.7 R:R)
Stop loss @ 355
Kindly do your own research before trading.
Peace!!
HINDALCOHindalco Industries Limited an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India. The company has annual sales of US$15 billion and employs around 20,000 people. It is listed in the Forbes Global 2000 at 895th rank.