Keep an eye on Hindalco it has possibly broken out from the range. Trading in this range since august. Best entry level should be above 180.00 level and SL must be below previous immediate swing. Calculate your own RR ratio and then trade.
Trade attivo
⋅
Acting as expected.
Commento
⋅
Concrete Resistance @ 171.75 my stop loss is @ 170.00.
Commento
⋅
Stuck in a consolidation zone. Big move might comne soon.
Interestingly, Hindalco is amongst the top performers in NIFTY Commodities Index. And commodities Index has performed relatively well against NIFTY Benchmark. There is also an good momentum signal (RSI) on weekly charts. Looks its heading for 202 as T1.
Umang_Sharma
⋅
@santosh_dts, I don't trade commodities as of now but yes it is looking good for the long-term view says for example weekly in equity as per my analysis.