HINDA trade ideas
Hindalco - The traumatic side ways moveWhen in Doubt refer Eliot Wave. Hindalco seems to be consolidating in area around price range of 117-120. With a resistance in the zone of 122-125 zone. Bollinger band of Hindalco in 15 minutes charts is squeezed. The sideways moves around 117-120 has been very traumatic with no clear views on the next move.
Hence going back to Eliot waves which suggest that last week move from 115-130 is the first wave and the retrenchment towards 117 zone is the wave 2. The next wave is most likely toward 145 range. Hence would be suggesting to go long. Stop loss if any could be around 112 level. For sure its going to be painful journey.
Would suggest to please please provide feedback on any other ideas to trade from the long term perspective.
Trendline breakout HINDALCOClose above 205 can see the levels of 210-213-216. RSI trending above 65 levels.
View negated below 203 closing.
HindalcoOnce a candle gives a close below low of the candle that has broken down below the channel one can go short and keep riding untill it closes above green EMA line, be watchful of this opportunity
HINDALCO - GO SHORT WITH A SL OF 219 AND A TARGET OF 180HINDALCO - GO SHORT WITH A SL OF 219 AND A TARGET OF 180
Short Positiion !!Good short postion ......trend is down
But Have a buy on the market .....because it also saying the reversal pattern ....so observe and trade
if it reverse from this level then have LONG position ......
HINDALCO INDSDOJI AND THAN HAMMER
BUY HINDALCO INDS ABOVE 207
GAP BETWEEN SIMPLE MOVING AVERAGE AND EMA EXPAND EXPECTED
WITH A TARGET PRICE OF 230
