Simple Trade Setup | HINDALCO | 11-08-2021

10 thg 8, 2021

HINDALCO

It has been taking support from the trendline.

If tomorrow, 11-08-2021, it takes support from the trendline or breakout this trendline then it will be a quick buy trade.

Safe buy trade will be above 430 level breakout with RSI trendline breakout. If 430 levels breakout but RSI trendline still remains below trendline then better to wait.

Below is the chart on Daily Time frame. As you can see it has breakout kind of rounding bottom and now it is testing the breakout level of 425. If it remains and takes support from 425 then for positional trade it will be good buy entry. And it it closes above 436 level then it will be considered as a reversal of downtrend.



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Hope I made it simple to understand the levels and trade setup.

Do comment your doubt or suggestion.

All the best.