Hindalco Has Broken Out of Falling Wedge Pattern Bullish
Hindalco has been falling from its ATH of 427.50 from 10th May onwards and has made a Falling Wedge Pattern.
It has broken above with good volumes but the point to note is that it has gapped up and made a spinning top like candle in the 1Hr and 2 Hr candles which is half of the Evening Star Candle Pattern. So in the short term it could see a reversal.
So it would be prudent to go long only after a retest of the trendline and a Bullish confirmation candle for the following targets.
T1-405.50
T2-427.50
It has broken above with good volumes but the point to note is that it has gapped up and made a spinning top like candle in the 1Hr and 2 Hr candles which is half of the Evening Star Candle Pattern. So in the short term it could see a reversal.
So it would be prudent to go long only after a retest of the trendline and a Bullish confirmation candle for the following targets.
T1-405.50
T2-427.50
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Target 1 Achieved.Trading ditutup: target tercapai
Target 2 Achieved
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