Hindalco Bearish Move

٥ أكتوبر ٢٠٢٢

• Possible retest for HINDAlCO INDS. Demand could change into supply.
  
  
• Sinds the end of March Hindalco has been facing a strong downtrend. Which could be resulting from the high Dividend payout Q1 2022 as investors have taken profit both from the bullish run and it's dividend higher payout.
  
  
• Approaching the shorter time frames for a more intra-day trade, there is possibility for shorting. The stock's volume is corresponding with a most likely retest, as their is a little barrier occurring right at the previously mentioned formed supply. I recommend a risk reward of 3 due to the enormous selling pressure.
  
  
  - David van Delden