Date: 22-Aug-2024
LTP: Rs. 685.55
Next Resistances: (1) Rs. 715 --> (2) Rs. 790
SL: Rs. 608 on daily close basis
Technical View:
•
HINDALCO is in it's primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 712.10 on 10-Jul-2024, it has retraced 15% to 608 level.
• On 21-Aug-2024,HINDALCO has broke out from it's secondary downtrend with higher than average volume.
•HINDALCO is trading above 20 DMA and 50 DMA. On 19-Aug-2024 it closed above 20 DMA and on 21-Aug-2024 it closed above 50 DMA.
• RSI is already in buy zone and trading at 61.20.
• MACD has already crossed over it's signal line and about to cross 0 line.
• Looking strong to start a new swing from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
LTP: Rs. 685.55
Next Resistances: (1) Rs. 715 --> (2) Rs. 790
SL: Rs. 608 on daily close basis
Technical View:
•
HINDALCO is in it's primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 712.10 on 10-Jul-2024, it has retraced 15% to 608 level.
• On 21-Aug-2024,
HINDALCO has broke out from it's secondary downtrend with higher than average volume.•
HINDALCO is trading above 20 DMA and 50 DMA. On 19-Aug-2024 it closed above 20 DMA and on 21-Aug-2024 it closed above 50 DMA.• RSI is already in buy zone and trading at 61.20.
• MACD has already crossed over it's signal line and about to cross 0 line.
• Looking strong to start a new swing from here.
Like the analysis? Boost/Like this idea and follow my ID.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
Not
Correcting R2 to 781 (from 790).Not
24-Sep-2024---------------
LTP: Rs. 717.85
1st resistance of 715 reached. 5% up from suggested level.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.