Sunday, August 9, 2009

Hindalco: A good Sell!

Hindalco: A very good inverse co-relation with Dollar index (DXY). DXY looks to have hit a major bottom. DXY shall turn up anytime soon and this will have bearish effect on Hindalco. Also the elliott countings are not showing good signals. OBV aand RSI shows negative divergence. Risk reward ratio looks acceptable.

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