Hindustan Copper- Bullish | 25% growth expectedThe price was consolidating in an Inverse head and shoulder pattern near the daily support areas.
The price broke out of the neckline, which is the first sign of bullishness. After the breakout on 2/5/23, the next day price even retested the neckline which confirms the pattern breakout. On 4/5 price advanced further and now facing resistance near 108 horizontal resistance and 200dma.
Once daily closes above 200dma and 108.5-109 horizontal resistance, go long.
Stop Loss- Below the lows of breakout candle with some buffer.
Targets
1. 121
2. 131
Remember to keep trailing your stop loss and move stop loss to entry once Target 1 is achieved.
Also, do follow Risk management and Position Sizing.
HINDCOPPER trade ideas
Hindustan Copper (HINDCOPPER)I think this stock will be a multi bagger stock because due to increasing demand of copper for EV's and cables and many other uses of the copper and it is government holding and biggest player in copper of India.
DISCLAIMER - IT'S MY STUDY PONTS NOT ANY RECOMMENDATION. THIS IS ONLY FOR STUDY PURPOSE.
#stockanalysis #governmentstock
Long In HINDCOPPERThe resistance zone is of year 2014 (kindly check monthly chart) . After a failed breakout earlier the stock is headed towards a fresh breakout. This can be seen along with increasing volume.
If weekly candle close above 126 this week can go long with target as shown in chart with a SL of low of the weekly candle ( keep some margin below the weekly candle).
This is only for education purpose only. Kindly do your own analysis before taking entry.
HINDUSTAN COPPER LTD - Keep an Eye + Double Bottom Pattern 📊 Script: HINDCOPPER (HINDUSTAN COPPER LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY METAL
📊 Sector: Commodities Metals & Mining
📊 Industry: Non - Ferrous Metals Copper
Time Frame - Daily
Script is forming Double Bottom Pattern as shown in a chart.
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 MACD is giving crossover.
📈 Double Moving Averages also giving crossover.
📈 Volume is increasing along with price which is volume breakout.
📈 Script may give breakout of Double Bottom Pattern.
📈 Current RSI is around 65.
📈 One can go for Swing Trade ONLY ABOVE 125.
BUY ONLY ABOVE 125
⏱️ C.M.P 📑💰- 123.40
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Happy learning with trading. Cheers!🥂
[POSITIONAL] HINDCOPPER LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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[POSITONAL] HINDCOPPER LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********