Timeframe: Daily
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: 412 – 399 – 382.
It’s important to note that if the crucial level becomes support, the price will attempt to test upward highs.
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This is a possible scenario. bearish can lead for Monday incase of a support breach.
Looks good. I have some expectations with hindalco
Thank you for sharing nifty’s outlooks. It helps me to take trade-in right direction. Do you have any update about nifty & bank nifty?
Fantastic idea!
Sir, I traded Hindalco and made a good profit. It will also be a profitable trade. We will wait for the confirmation.
The market is bearish, but we can see recovery as a pullback.