Daily Trading Strategies
15/02/2017
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Daily Level
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Hindalco Industries LTD
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R3- 190.50
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Buy
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Buy above 187.85 with Target-189/190.50 with Stop Loss-187.25.
Note:
If open price is below 187.85 than order is active
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R2- 189.00
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R1-187.85
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Resistances
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Support
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Sell
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Sell Below 184.35 with Target- 183.20/181.70 with Stop
Loss-184.95.
Note:
If open price is above 184.35 than order is active
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S1- 184.35
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S2- 183.20
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S3- 181.70
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Hindalco is trading almost near life time high where we can see a Doji and Doji star formation with a confirmation candle, Doji and Doji Star are completely a reversal signal for short period of time and voulme also decline for past two weeks (low demand on top). If stock open on Monday near Friday close or below and able to break 213.25, this reversal trend will continued, Try to apply this strategy with volume below 213.25 and immediate support levels are on 210.35/207.30 and strong support 205.20 level and resistance levels are 216/220.20/224.80
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