HINDALCO INDUSTRIES LTD
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#Hindalco Multi Time Frame view

ที่อัปเดต:
This post covers Multi time frame analysis. On monthly tf Hindalco gave a multi year resistance breakout in 2021 Feb and from there it went on to become double.
During June 2022, it corrected and retested the same trendline resistance which now became support.

Weekly TF :

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On weekly TF; it is making HL since Covid Low and has been consistently taking good support around 200 ema on weekly tf..
Currently consolidating in a triangle and the volumes are rising and last week's volume are highest since Nov 2022.
RSI is also showing a sign that it will give a breakout soon

Daily TF :
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On daily tf; good accumulation + previous BOF of the IB on 29th May with less volumes. It did a bull trap and then came back into the came range again.
However, it has again given breakout and of the same range and the volumes are bit higher with RSI & MACD both giving upticks.
Also, last friday it made a open low with a breakaway gap. A good signal overall of strength coming back in this counter


Hourly TF:
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On hourly tf; RSI is bit overheated - so any pullback towards lower support may provide a good short term trade.


However as larger trend is looking it is finally turning tide towards +ve side; overall looking very good now with smallest possible risk
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Weekly TF chart
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Daily TF chart
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Hourly tf chart

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Hindalco 440+ now
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Hindalco monthly closing above 500++, first time after Feb 2022
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Hindalco 520++
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Hindalco 734++

สแนปชอต
Chart PatternsHINDALCOTrend Analysis

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