Hindalco Industries Ltd - Breakout Opportunity
Date: 26-Mar-2024
Rating: Buy - Positional Trade
LTP: Rs. 558.65
Targets: (1) Rs. 620 --> (2) Rs. 636 --> (3) 675
SL: Rs. 515
Technical View:
•
HINDALCO is in its primary uptrend since end of Jun 2023 and was recently going through it's secondary downtrend.
• After touching the high of 608.95 on 8-Feb-2024, it has retraced 18% to 499 level.
•HINDALCO has broke out from its secondary down trend on 15-Mar-2024 with higher then average volume.
• RSI has crossed 50 on 21-Mar-2024 and MACD crossed 0 on 22-Mar-2024.
• Looking strong to start a new swing from here.
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.
Rating: Buy - Positional Trade
LTP: Rs. 558.65
Targets: (1) Rs. 620 --> (2) Rs. 636 --> (3) 675
SL: Rs. 515
Technical View:
•
HINDALCO is in its primary uptrend since end of Jun 2023 and was recently going through it's secondary downtrend.• After touching the high of 608.95 on 8-Feb-2024, it has retraced 18% to 499 level.
•
HINDALCO has broke out from its secondary down trend on 15-Mar-2024 with higher then average volume.• RSI has crossed 50 on 21-Mar-2024 and MACD crossed 0 on 22-Mar-2024.
• Looking strong to start a new swing from here.
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.
הערה
15-Apr-2024---------------
LTP: Rs. 612.70
1st target of Rs. 620 reached. 10% up from suggested level.
NEXT TARGET: Rs. 636
הערה
24-Apr-2024---------------
LTP: Rs. 636.10
2nd target of Rs. 636 reached. 14% up from suggested level.
NEXT TARGET: Rs. 675
עסקה סגורה: היעד הושג
7-May-2024--------------
Broke down the trend line. Both RSI and MACD are giving bearing view. Closing the call to book profit.
LTP: 620.20
P&L: +11%
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.