planned the reade in gap down outside the zone in 15 min, but it was still within 75 min consolidation range, price may fluactuate around these upper and loer ranges levels.
IT was not a appropritate trade paln innt that way.
More over price touched in that gap down , and came down all of asudden . But my mistakwas that i taken the entry quite urgently once the...
01-12
Daily chart of HINDALCO1!
LTP: 465.60
The pattern looks like the bullish ascending triangle.
The supports are at 426.90 (200 EMA) and 424.65 (manual).
Candles holding strong above 200 EMA is a bullish signal.
I have gone long for short term trade
28-11
Daily chart of Hindalco1!
LTP: 433.10
The candles have respected the resisting trendline (manual)
The candles have respected the resistance at 442.30 (manual)
If the weakness carries, the candles might break the support at 426.10 (200 EMA) and head towards the support at 358 (manual)
I bought 430 pe
-Strong Weekly and Monthly momentum Suggested by RSI above 60
Breakout in Price Supported by:
a) High Volume
b) Breakout in Daily RSI
c) Relative Outperformance to Broad Market (CNX500)
d) Leading Market Sector
1. Enter Long 402.25
2. Initial stop loss below 386 on closing basis in hourly timeframe.
3. Trailing Stop with SuperTrend or Adaptive ATR on 120min...
Hindalco is a classical trading stock. It follows very clear trend, weather it is uptrend or down trend.
Here Hindalco clearly shows the trend reversal.
Shorting at 185 level is good entry point.
Stop loss will be 190 level.
Look at your own risk.
Your humble trader
Kiran
