Thursday, October 30, 2014



Hindalco is strictly moving in channels in the upward direction and then correction as well in a channel. After a good rally( stock doubled almost) of 5 months stock went into correction for 2 months and found support at 61.8% levels forming a good pin bar which shows buying interest at lower levels. Now Stock gave a breakout yesterday from the channel it was in the period of correction. Buy the stock with strict SL at 130 for targets of 175 - 225 levels in coming months.

F&O traders can also give a try with positional holding for next two months.

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