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Hindalco Update

28 Jul 202008:03 AM

I noted last time that wave ii was forming with support at 160, near the 20dma, and prices fell below that closer to the 40dema near 151. So the bounce back should be wave iii that needs to go past the wave i high of 170.50. Given the second rally from the March low was shorter than the first the wave marking is 1-2-1-2 and now we are in wave 3 of 3 up where 3=1 is near 201.

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