HINDALCO-- UPDATE : Rounded Bottom Bullish chart pattern.

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HINDALCO ---UPDATE : 06/03/2023 -- ROUNDED BOTTOM BULLISH CHART PATTERN --DAILY CHART

1. This is reference to previous idea of HINDALCO -- , we can see rounded bottom cup formation of chart ,

2. correcttion from 480 sub level sub to 400 level downtrend form, and after support formation of 400 level curve seen upside level .

3. 415 form as support , stock seen close around this level which is near by trendline breakout , if breakout candle seen then stock will be at bullish zone . for target 440-480 + as mention in previous idea.

4. Nearest support level 404-408 , resistance 425-440

5. CCI , EMA bullish crossover seen ,

** . arrow indicate rounded bottom formation levels.




THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk !!

HAPPY TRADING !!

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CCI , EMA indicator, histogram seen bullish divergence

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Hekin Ashi green candle above trendline will be breakout and bullish trend confirmation candle

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Target 1-440 , Target 2- 480 ( not 880)

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ملاحظة

Support of rounded bottom chart pattern, is inner edge of 'U' shape curve , like previous arrow indicate , this time at upper side . if previous support 400 broken and if stock hourly/ Daily candle close bellow 399 then this pattern no longer valid .

08/03/2023