HINDUSTAN COPPER LTD - Keep an Eye + Double Bottom Pattern 📊 Script: HINDCOPPER (HINDUSTAN COPPER LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY METAL
📊 Sector: Commodities Metals & Mining
📊 Industry: Non - Ferrous Metals Copper
Time Frame - Daily
Script is forming Double Bottom Pattern as shown in a chart.
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 MACD is giving crossover.
📈 Double Moving Averages also giving crossover.
📈 Volume is increasing along with price which is volume breakout.
📈 Script may give breakout of Double Bottom Pattern.
📈 Current RSI is around 65.
📈 One can go for Swing Trade ONLY ABOVE 125.
BUY ONLY ABOVE 125
⏱️ C.M.P 📑💰- 123.40
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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HINDCOPPER trade ideas
[POSITIONAL] HINDCOPPER LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
[POSITONAL] HINDCOPPER LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
Hindustan Copper Ltd.
Asc.Triangle Pattern: Monthly Basis
MultiYear Price Trendline Breakout Possibility
Price/Vol. BreakOut
*With Price Up, Trail Stop Loss*
*Book Profit as per Risk Appetite*
*Fundamentally Sound Co*
GoI owned, Only integrated copper producer in India with captive mines, smelter, refinery& rod manufacturing facilities.
Copper Demand/Prices likely to remain elevated on back of Higher Usage required for EVs, Renewable energy sectors. Copper utensil gaining traction too. Will benefit HCL.
Highly Attractive Disinvestment Target: Vedanta, Adani, Tatas, JSW, etc. likely to Bid whenever its initiated.
Increasing Sales/Profitability on Yrly Basis.
Sharp Improvement in RoA/RoE/RoCE to Double Digits for FY22 vs. FY21.
Improving Leverage/TNW/Increasing Cash Reserve.
Higher +ve Ops. Cash Flow.
Stable GOI stake/ FIIs stake Up / DIIs Down.
*Concern:*
Adverse cost structure at its smelting/refining operations, production from these facilities remain minimal at present .
Exposed to International Copper Price movement, putting pressure on Profitability/Cash Flows.
Upcoming large capex.
Elongation in Payable Days.
*Do Your Own Research as Well. This is Just an Opinion.*
Your Opinion may Differ/Respected.
Happy Investing :)