Hindalco is fundamentally a very good stock and has given good returns in the past. Currently, it has formed and given a breakout of a symmetric triangle pattern in a weekly timeframe with good volumen and trading in a daily/weekly channel.
It has cleared its first resistance which was a zone of 450 and is now ready to travel up to the upper body of the channel.
A fresh position can be created at CMP or in the dip in the price zone of 410-430. Keep a strict stop loss of 380. It has the potential to give a return of 20-30% in the coming weeks.
Happy trading :)
It has cleared its first resistance which was a zone of 450 and is now ready to travel up to the upper body of the channel.
A fresh position can be created at CMP or in the dip in the price zone of 410-430. Keep a strict stop loss of 380. It has the potential to give a return of 20-30% in the coming weeks.
Happy trading :)
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