Hindalcoindustries
HINDALCO LOW RISK HIGH REWARD IDEAAs per my analysis, it is the best time to take buy entry at 404-405 on NSE:HINDALCO with stop loss of 395 (-10 Points Risk). My expected upside target would be 414 & 433 (If any daily candle closed above level of 415.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
HINDALCO--In RANGE Bound ??Observations:
----->> The stock is trading in a range bound for long time.
------>> now its trending downwards in 15min time frame and now its near to support again, if support breaks will see downwards up to 420 range.
------->> we have a trendline resistance as well, if breaks will again move back to 445-450 range.
------->> keep an eye on these levels.
{HINDALCO}:(FINAL RISE FOR 4.5%)
Price has completed the 5 Wave Impulse in 12 Months Chart this is the last wave of uptrend in Correction as the Trend is in Downward direction, the target of this Long Trade is the Entry price for a Short Trade, so timely exit is as critical as the Entry is...
ENJOY THE RIDE ! ! !
UNDERSTANDING {HINDALCO} WITH (WAVES)!!!
Price has formed a 5 Wave Impulse in Monthly chart, which completes the Wave 1 in the Higher Loop
Currently Price is in Correction forming the Wave 2 in the Higher Loop, which ends in a Demand formed in the 12 months chart @ 284.00 also this is the Price from where the Wave 3 starts,
Focusing on the current Price we are in a simple correction in Monthly chart,
Price has a fresh Monthly Supply which will complete the last WAVE C of the Wave 2 also we have a small Buy Trade before the Wave C (Declining Impulse begins!!!)
I jus Hope this is Understandable!!!
ENJOY THE LAST UPRIDE!!!