Hindalco: U-Turn?Price formed a double top pattern at major resistance level (on monthly charts). At retest of the support, price has formed a Gravestone Doji followed by Bearish Engulfing (on daily charts) both of which are negative signals. Since past 2 years corrections have been triggered from the month of January, again this cycle may be repeated
HINDA trade ideas
Hindalco - Intraday Trade SetupHindalco CMP - 241
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell At or Below 240 / Stop Loss 245
Target 1 - 237
Target 2 - 234
Target 3 - 232
Disclaimer: This is my view and for educational purpose only.
HINDALCO - Elliott wave analysis - buy set upHINDALCO - It is in ABC zigzag cycle from last bottom as shown in the chart from last bottom, where 4th wave of C wave is in progress and may finish soon. Go long with stops below 179.50 for target above 188 or higher as medium odd trade set up with small quantity.
Give thumbs up if you really like the trade idea.
HINDALCO close to resistanceHi Friends,
I love Trend following stocks. Weather it might be UPTREND or DOWN TREND.
BECAUSE i believe in saying '' TREND IS YOUR FRIEND ''
One of few stocks which follow the trend clearly is HINDALCO.
It started Down trend and our aim to get profit from it.
So sell at the resistance with tight stop loss.
Your humble trader
Kiran