buy HINDALCO above 126-127 range sl 120 target 134-142
technical chart study
with chart we can see that hindalco is having a good resistance in a range of 126-127 so if price able to sustain above 126 for 15-30 min one can take position and add more above 127 if price not sustain then dont stay long please till its not break 127 level.
we can see that price able to touch the recent high but rsi still below overbought zone, so positive price action in stock can give scope to rsi to move in overbought zone, as of now it has developed “BULLISH NEGATIVE DIVERGENCE” at upper level but that can be confirm only if price able to sustain above given levels.
so overall view is, if price able to cross mention levels and sustain for 30-60 min above the level then stock can give breakout here.