Price is now enters into the daily resistance zone,wait for the price to be bearish
after a strong bullsihness price is facing resistance.
the area of value at 470 price may push it upside again...so keep looking for short side...
First things first: what exactly is a resistance line? Simply put, it's a horizontal line on a stock's price chart that represents the highest price at which the stock has been sold during a given time period. This line serves as a psychological barrier for many investors, who often view it as a threshold that cannot be crossed without incurring significant...
I took my first position on Feb 17th, 2023. I then added to it on April 3rd and May 25th. The total holdings in the stock summed up to around 2.5% of the capital, and I held the stock for over 6 months.
Technically, I am expecting a reversal move and have therefore decided to book the profit. I don't have much insight into the potential of the aluminum sector...
HINDALCO is looking really great above the 472 price mark for a swing trade which can give really great returns. please make a long entry as it will not require a big stoploss as the SL is placed at 450 only.
Our targets will be T1 = 503 / T2= 528/ T3= 556.
remember to trail in profits keep it simple.
This is just a Simple Trend Analysis of $NSE:HINDALCO.
On this chart, the price has already created a HH and HL, which is a signal of an uptrend.
Apart from that, a Descending Channel breakout is also visible in this chart, whose bias is bullish, hence expecting the price to go up and make another HH.
Also, in the past, the Price has reacted from a Zone; hence...
Hindalco is continuously making HH & HL and recently broke out long awaiting trendline. It can easily go to 500 levels. The content provided is for educational and informational purposes only.
As expected taking support at trendline and hence long can be considered here. I believe in concentration rather than diversification so I shall be taking risk in single sector also if setups are favoring my position.
