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Hindalco

Discussion in 'Technical Analysis' started by drsuraimardi, Sep 28, 2012.

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  1. drsuraimardi

    drsuraimardi New Member

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    Some analyst is saying buy hindalco with a target of 127.Is that be the case ? I think it is a buy if it breaks 128 with rise in volume.Besides that I think it may form the right shoulder of inverted head and shoulder if it doesn't break 128 with high volume .So one should wait and watch.What is your opinion guys especially Shabbir,Sujan & Sanjay:)
     

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    drsuraimardi, Sep 28, 2012
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  2. sujan4bw

    sujan4bw Member

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    It's already feeling heat at 122. Also there is Gap up which must be filled up.

    It can be considered only if there is raise in volume above 127 and that too not for long targets.
     
    sujan4bw, Sep 28, 2012
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  3. drsuraimardi

    drsuraimardi New Member

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    Thanks Sujan ! Then what will be the target after 127 ? Will it be 134 or 145 ?
     
    drsuraimardi, Sep 28, 2012
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  4. sujan4bw

    sujan4bw Member

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    may be 132....it has got several resistance points
    1. 132 or 133
    2. 144
    3. 161
    4. 164
     
    sujan4bw, Sep 28, 2012
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  5. drsuraimardi

    drsuraimardi New Member

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    Thank you Sujan.Ok Good night !
     
    drsuraimardi, Sep 28, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hi!
    Don't give so much stress to ur head, just make a alert of hindalco @ 128 & 134 and forget about it.
    If alert flash then see is there any pattern to enter or not.

    As per my view it making so many patterns from 1 year chart but right now just change the trend from downtrend to uptrend but nothing impressive to enter in the stock @ current level or @ 128 level.
     
    sanjay_sansanwal, Sep 28, 2012
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  7. shabbir

    shabbir Administrator Staff Member

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    The blue W that you have drawn the attached chart is completely wrong and the second leg should not be too much down then the first one for a W.
     
    shabbir, Sep 29, 2012
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  8. drsuraimardi

    drsuraimardi New Member

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    Shabbir ! you have not read my analysis correctly.I have not drawn W rather I am asking whether "inverted head & shoulder pattern" formation is in the process.So in my drawing I am assuming that I have drawn "left shoulder" and the "inverted head" . And I am trying to predict that "right shoulder" of the inverted head and shoulder can be formed if it retraces from 128 level .So in my opinion Hindalco should not be bought before the breakout of 128.Thanks .
     
    drsuraimardi, Sep 29, 2012
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  9. shabbir

    shabbir Administrator Staff Member

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    No this is not how we should be analyzing like what would happen if something more happen in the chart. Ideally we should predict what can happen based on what we see.

    No. the breakout above 128 should form the needed pattern and not just 128 is any number and so let the pattern tell you the levels and not assume those levels.
     
    shabbir, Sep 29, 2012
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  10. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Very correct.
     
    sanjay_sansanwal, Sep 29, 2012
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  11. drsuraimardi

    drsuraimardi New Member

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    Got your point Shabbir ,Thanks a lot !
     
    drsuraimardi, Sep 30, 2012
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  12. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Sep 30, 2012
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