Today Started again and decided to complete the Pending Work, but it is really very difficult to check all charts, Mark them and Select few of Many Opportunities :)
Today We will be Looking at Few Stocks....
First Stock for the day Will be : HINDALCO LTD.
As Said earlier in Many of my WhatsApp group Posts and Updates, I am Big Bullish on Metal Stocks since the March Lows. Our Free WhatsApp Group Members and Paid Service Members have enjoyed a Lot in Metal Stock Trades. We have seen Big rallies in Few Counters and Few are yet to move as expected.
Let's See Chart of the Stock
This is a Weekly Chart for the Stock. On this Chart, we can see a Long Term Falling Trend Breakout. The Stock started correcting from 2018 First Week and it was Still in downtrend till Last Week.
Last week the Stock has Managed to breakout above the trendline and Started this week on a Sideways mode. The Breakout after making March 2020 Lows is very important. The Stock Corrected Upto 85 levels in March 2020 and then Reversed to make a Breakout, Now trading at 214 today. Technically it is More than 150% gains from the Lows. In the Process of Breaking Out, The Stock has formed a Small Cup & Handle which is not so textbook type formation. The Price has also crossed Important 100 period Simple Moving Average and now trading above the Moving Average.
The Breakout will be retested in coming days, small Pullback will be seen. No Need to Enter the trade immediately on Breakout... Once the Stock reaches the Breakout level to retest. One can enter the trade.
HINDALCO LTD.
Buy @ 210 and
Add On Dips to 180
Stoploss : Closing Below 160
Targets : 236 - 277 - 333
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