Hindalco is near the support zone. It has trend line support as well as 50 EMA support.
Stochastic RSI is also showing over sold levels.
By looking at the price action it seems like a minor pull back from recent high and the uptrend is still intact. Fibonacci is also showing 23.6% retracement from recent highs.
I am bullish on metals and Bullish on Hindalco as well.
But if it breaks the 171 levels then the bears may kick in and down fall may come.
Watch out for 171 levels. As long as 171 is protected on the closing basis I am bullish on Hindalco.
Stochastic RSI is also showing over sold levels.
By looking at the price action it seems like a minor pull back from recent high and the uptrend is still intact. Fibonacci is also showing 23.6% retracement from recent highs.
I am bullish on metals and Bullish on Hindalco as well.
But if it breaks the 171 levels then the bears may kick in and down fall may come.
Watch out for 171 levels. As long as 171 is protected on the closing basis I am bullish on Hindalco.