Undecided about Hindalco & India Cements

Hi Shabbir,

I tried studying following charts but not able to make out where they are heading. Can you shed some light on it?








Regards,
Ganesh

 

Both charts look alike. The deep fall is cause for concern. It shows to be careful at overbought zones. We shouldn't be greedy at these levels. In indiacement volume increased to more than average also some pre indication to be alert. The same volume surge of hindalco on 29th May before gapup also some indication for breakout.
But we can't come to conclusion that it achieved the top for one or two sessions. It depends on the time frame for which we trade.

 

Thank you sir for your valuable input.

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I also agree. Its good to book profits now when there is so much movement in price.

 

India cement has not fallen much. Swing opportunity exist, also check hourly chart, stock has bounced back from 140 2 times and it is also key support

Hindalco has fallen too much, but region of 130-140 is strong support area. i feel this should hold. Let's see whats in store.

 

Thanks for your valuable insights sir.

 

Well, both india cement and hindalco maintained support levels as mentioned earlier and bounced back. I am hoping nifty will soon cross 8850.

 

Agree. Fed rates unchanged and so should be tomorrow itself if not in few days for sure.

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both charts are good. fall in price for one or two days does not negate it's uptrend. there will always be counter trend for every uptrend. so buy both stocks in equal quantity. both stocks have potential for further appreciation. you are confused because you are seeing there daily charts, see weekly and monthly charts also then you will easily decide where the stocks are heading. hope you will now be more confidant while taking these trades.