NSE HINDALCO gives a breakout of descending value area with enormous supply pressure. Price fell by 25 points in the previous trading session. The sharpness has shocked buyers of NSE Hindalco.
At this glance, prices are 200 and 100 in the exponential moving averages. The stock is trading at a crucial level of 428.5, where wave 4 ends.
According to the wave principle, the trend can change after the breakdown of corrective waves 4, B, or C. If the price sustains below 428.5, traders can sell for the following targets:
It’s important to note that if the crucial level becomes support, the price will attempt to test upward highs.
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