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Hindalco

14 Jul 202001:33 PM

Hindalco has moved up in a series of impulsive waves where the 3rd wave is shorter than the 1st. We have either started wave 5 or the 3rd wave is subdividing into a larger structure. Then the most recent move up from the July low of 144 is minor wave i of the next move higher. With support near 160 it is possible that a trend higher towards the top end of the channel near 189 or where 3 = 1 near 200. The best case scenario would be a retest of the January high near 221.

hindalco 140720

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