Hindalco long term - Potential end of 5 wave on weekly TF
A BIG rise from 60 odd levels to 200+ in Nifty front line stock coming to an end. After which a multi-week correction should set in.
An ending diagonal in weekly time frame along with a Negative divergence in RSI and MACD indicators.
Strategy is to sell on all rises between 202 to 212 with Stop loss = Weekly close above 222.
Maruti also in a similar pattern.
An ending diagonal in weekly time frame along with a Negative divergence in RSI and MACD indicators.
Strategy is to sell on all rises between 202 to 212 with Stop loss = Weekly close above 222.
Maruti also in a similar pattern.
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