HINDALCO Closes at `110.30 with a Fall of -3.50% on 16 May 2012 with formation of a Black Candle on Daily Price Chart .Technically, HINDALCO is looking Weak on Charts. It is now Trading Below Its 200DMA. Schaff Trend Cycle is also Negative. Major Momentum Indicators are also Bearish. It has also Broken the Downside of Linear Regression Line, Making it Short/Mid Term Bearish.
We Recommend to SELL: HINDALCO at CMP
Target : `104.67/100
Stop: Loss :`115.53
Time Frame: 5-20 Trading Days
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based Quant Research Firm at M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks(Trades at NSE) & In-Depth Analysis of Indian Equity Market,Major World Indicies,Bonds,ETFs. We use Ami Broker Charting Software (V-5.50),Pattern Explorer & AmiTools-Power Scan(V-1.3.6).You can reach the Chartist here mail@niftynext.com Or Over Phone at +91 80171 98633 begin_of_the_skype_highlighting +91 80171 98633 end_of_the_skype_highlighting Or SMS at +91 880 2230 836/ 8927670565.
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based Quant Research Firm at M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks(Trades at NSE) & In-Depth Analysis of Indian Equity Market,Major World Indicies,Bonds,ETFs. We use Ami Broker Charting Software (V-5.50),Pattern Explorer & AmiTools-Power Scan(V-1.3.6).You can reach the Chartist here mail@niftynext.com Or Over Phone at +91 80171 98633 begin_of_the_skype_highlighting +91 80171 98633 end_of_the_skype_highlighting Or SMS at +91 880 2230 836/ 8927670565.
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