When in Doubt refer Eliot Wave. Hindalco seems to be consolidating in area around price range of 117-120. With a resistance in the zone of 122-125 zone. Bollinger band of Hindalco in 15 minutes charts is squeezed. The sideways moves around 117-120 has been very traumatic with no clear views on the next move.
Hence going back to Eliot waves which suggest that last week move from 115-130 is the first wave and the retrenchment towards 117 zone is the wave 2. The next wave is most likely toward 145 range. Hence would be suggesting to go long. Stop loss if any could be around 112 level. For sure its going to be painful journey.
Would suggest to please please provide feedback on any other ideas to trade from the long term perspective.
Hence going back to Eliot waves which suggest that last week move from 115-130 is the first wave and the retrenchment towards 117 zone is the wave 2. The next wave is most likely toward 145 range. Hence would be suggesting to go long. Stop loss if any could be around 112 level. For sure its going to be painful journey.
Would suggest to please please provide feedback on any other ideas to trade from the long term perspective.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。