Long in HINDALCO.
Zaktualizowano
No matters how bullish the Markets sound to be we can always find good undervalued stocks, Hindalco is one of those company we are going to talk about.
Company majorly deals with Aluminum and copper, where it is a market leader in Aluminum rolling and recycling.
Stock has corrected more than 50% from its peek last year. why is that case, '' because in just two years of period stock has given 600% of massive runup and later on rally ended with fair correction. There is no any fundaments related issue till date. Sales and revenue seem pretty stable while FII stack has drastically increased.
Stock has formed strong support level where it has retested multiple times and move up. We can aim at least for 30% from this juncture.
It was completely my Analysis. Not a recommendation from my side, Please consult you finance adviser before investing
If you liked this Analysis do like and follow.
Company majorly deals with Aluminum and copper, where it is a market leader in Aluminum rolling and recycling.
Stock has corrected more than 50% from its peek last year. why is that case, '' because in just two years of period stock has given 600% of massive runup and later on rally ended with fair correction. There is no any fundaments related issue till date. Sales and revenue seem pretty stable while FII stack has drastically increased.
Stock has formed strong support level where it has retested multiple times and move up. We can aim at least for 30% from this juncture.
It was completely my Analysis. Not a recommendation from my side, Please consult you finance adviser before investing
If you liked this Analysis do like and follow.
Zlecenie aktywne
Been bullish in this stock when it was trading at very low price. After some pull backs it finally started to rise significantly and given a breakout of triangular pattern. Although it is trading above 9% from its support now but trade can be initiated by putting Stop loss under the support level for minimizing the risk and potentially gain.
Make your own setup, I just presented my analysis. I might be very well wrong.
So, always try to figure out your logic and reason to enter in a trade.
Uwaga
Caution- There is a resistance level around 454, which could potentially result in a retracement. We can consider to book partial profits. if the price comes down and finds support. Afterwards, we can consider adding to our position again.Zlecenie aktywne
Yesterday, Hindalco Industries broke its resistance within the rectangle pattern, surging above it. I have been bullish in this since very long time, I've added more positions today. The outlook is promising, and profits await those in this trade. Ride the bullish wave of Hindalco Industries to success! 🚀📈Uwaga
There was a slight decline in sales and profit in the Q1 results released today, which led to the stock falling for a bit. However, FIIs have not sold their holdings; in fact, they have increased their holdings. There are no red flags that have been seen. Currently, it is trading near its resistance level, and I am hoping this will act as strong support. I am still holding this for a substantial period.
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