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HINDALCO INDUSTRIES LTD
Short

Hindalco Bearish Move

By ImperialTrading
  • Possible retest for HINDAlCO INDS. Demand could change into supply.

  • Sinds the end of March Hindalco has been facing a strong downtrend. Which could be resulting from the high Dividend payout Q1 2022 as investors have taken profit both from the bullish run and it's dividend higher payout.

  • Approaching the shorter time frames for a more intra-day trade, there is possibility for shorting. The stock's volume is corresponding with a most likely retest, as their is a little barrier occurring right at the previously mentioned formed supply. I recommend a risk reward of 3 due to the enormous selling pressure.


    - David van Delden
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ImperialTrading

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