HINDALCO--Channel Breakout or Breakdown ?? this stock is trading in a range...
from several days....wait for the breakout or breakdown...keep add in your watchlist...
if again continue its movement towards upside from the channel or break....
if it moves upside we have resistance @445-450 zone...support is located @400 zone...
Hindalcotradesetup
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.
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!!!