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ImperialTrading

Hindalco Bearish Move

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HINDALCO INDS (NSE:HINDALCO)  
ImperialTrading  
NSE:HINDALCO   HINDALCO INDS
Trend Analysis Chart Patterns Wave Analysis HINDALCO hindalcoshort indianstocks stocktrading indianstocksanalysis indianstockmarket hindalcoanalysis asiastocks supply_and_demand
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trendanalysis chartpattern waveanalysis hindalco hindalcoshort indianstocks stocktrading indianstocksanalysis indianstockmarket hindalcoanalysis asiastocks supply_and_demand
  • Possible retest for HINDAlCO INDS. Demand could change into supply.

  • Sinds the end of March Hindalco has been facing a strong downtrend. Which could be resulting from the high Dividend payout Q1 2022 as investors have taken profit both from the bullish run and it's dividend higher payout.

  • Approaching the shorter time frames for a more intra-day trade, there is possibility for shorting. The stock's volume is corresponding with a most likely retest, as their is a little barrier occurring right at the previously mentioned formed supply. I recommend a risk reward of 3 due to the enormous selling pressure.


    - David van Delden
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