Hindalco showed an amazing move today and was up by
more than 6% in single session. We turned bullish on this stock and gave it in
the morning before equity markets opened. Prices still rallied by more than 3.70%
above the buy price level given.
Below is the chart showing detailed analysis published in our research
report -“The
Financial Waves short term Update”
Hindalco
60 mins chart: (anticipated as on 01st
April morning before markets opened)
Hindalco
60 mins chart: (Happened during the day on
1st April 2019)
(Below is an extract of research
taken from our daily equity report)
Elliott
Wave analysis:
Anticipated - “Although in the previous session
Nifty traded sideways, Nifty Metal was the only sector which stayed positive
throughout the session and was the major gainers amongst other sectoral
indices. Similarly Hindalco closed on
Friday day with a gain of 1.30%.
As shown
on hourly chart, prices have been drifting higher and also the 30 periods EMA
is whipsawing in the prices and hence for a clear up move to begin the upper
range needs to be taken out. The channel is working really well and has
continued to provide the support. A break above the upper range would take the
prices towards higher levels. In short, ….break
above 211 can take the prices higher towards 216-218 levels until the lower
level of 201 stay protected on the downside.
Happened: The stock finally managed to break above its range and moved in sync
with our expectation, making a high near 218.75 levels.
To capture such moves on daily basis Get access to our “The Financial Waves short term update” is daily
equity research report covering Nifty and 3 stocks providing detailed analysis
using Elliott wave and other technical analysis methods. Subscribe here
You can also subscribe to our Intraday and Positional calls
services. Today’s session we gave the following call on Intraday basis –
12.36 pm ICICIPRULI FUT BUY ABOVE 360 SL 357.7 TGT1
361.4 TGT2 363.7
12.39 pm TGT1
- ICICIPRULI FUT BUY CALL GIVEN TGT 1 ALMOST ACHIEVED
AT 361.30
2.26 pm TGT2 -
ICICIPRULI FUT BUY CALL GIVEN TGT 2 ACHIEVED AT
363.70
Subscribe for the above call services and get
research reports along with it. Get access
here
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