Hindalco - Elliott wave analysis - 5th waveIt is in 5th wave and expected to go for one more high after a three wave corrective pull back of internal degree. The target zone will be above 500 level.
HINDALCO trade ideas
rounding bottom formationlook nice classical chart. check volumes of narrow bear spread while forming cup(seems like accumulation) and now volumes are rising with wide spread seems next bull move possible . either wait for pullback or u are aggressive trade just jump in .
Hindalco - Elliott wave analysis - correctionIt is in sideways complex correction as WXY in progress. Until price remains below 405.75, it is considered to be bearish and can go more downside, but if price crosses above 406, then X wave will continue moving higher.
Hindalco Hindalco can touch 412 on 19/07/2021.
I think Nifty Metal will give good upmove on Monday.
JSW Steel also expected to give upmove.
channel formationWe can use the channel lines as support and resistance or short term trade positions
I would say it bullish mode I am learner for chats and stocks..
want to share my idea that it would be set up for swing buy signal.
Hindalco waiting to break out Hindalco waiting to breakout from a symmetrical triangle. You can see the decrease in volume at the bottom. Its accumulating power to breakout upside. SL 380 . first target it will reach 425 and then price may come down for an ascending triangle or it may breakout above 426 for target of 480+
