Opportunity in volatile markets. Hindalco
In volatile markets like current times, strong stocks display some characterstics which make them attractive to buy with low risk and high reward.
When broader markets takes short upturn, these stocks break out of large bases with significant buying volume. Also, when broder markets taken short downturn, these stocks pulls back to retest the support level which was previously resistance.
At this stage, small amount of money can be added and watch the trend in following days to support your hypotheses and more money can be afterwards uptrend confirmation.
Hindalco is buy as per this hypothesis as explained in attached chart.
When broader markets takes short upturn, these stocks break out of large bases with significant buying volume. Also, when broder markets taken short downturn, these stocks pulls back to retest the support level which was previously resistance.
At this stage, small amount of money can be added and watch the trend in following days to support your hypotheses and more money can be afterwards uptrend confirmation.
Hindalco is buy as per this hypothesis as explained in attached chart.
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