Stock Analysis for Hindalco (Intraday)

Trade Type: Short (Intraday)
Timeframe: 15-Minute Candles

Key Levels:

Entry Point: Closing of a 15-minute candle below ₹571.75.
Target Levels:
Target 1: ₹562
Target 2: ₹555
Trade Plan:

Monitor the 15-minute candle close for confirmation below ₹571.75.
Enter the short position only after a confirmed break below the entry level.
Set the stop loss above the high of the breakout candle to manage risk effectively.
Risk-Reward Assessment:

Entry: ₹571.75
Target 1: ₹562 (Potential gain: ₹9.75 per share)
Target 2: ₹555 (Potential gain: ₹16.75 per share)
Ensure the stop loss aligns with the high of the breakout candle to maintain a favorable risk-to-reward ratio.
Disclaimer:
This analysis is for informational purposes only and should not be considered as financial or investment advice. Trading in the stock market involves risks, and past performance is not indicative of future results. Please conduct your own research or consult with a licensed financial advisor before making any trading decisions.