May 29, 2011

HINDALCO Analysis

  • Hindalco had a good close to the weekend. 
  • Price broke and close above the trend line in daily chart. MACD is looking positive and may give a buy signal. 
  • Price will move up if sustains above 20 day moving average.
  • Cloud resistance is near 207 and then the weekly down trend line will also act as resistance.
  • Above bullish view valid only if price sustains above 20 day moving average.
  • NIFTY WEEKEND UPDATE

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