Hindalco took support on 25th September at the low of 223.3. On that day Hindalco closed below 50 ema and on next day it closed above 50 d ema. Stock is retraced 90% of fall with a break out candle with volume on Friday. Daily MACD ready for a bullish cross-over.
In this scenario advise to take a bull call spread on this stock:
Buy 255 call at 5.45
Sell 265 call at 2.2
Maximum Risk for this trade is 11375 Rupees.
Maximum Profit potential for this trade is : 23625 Rupees.
Risk Reward Ratio : 1:2
In this scenario advise to take a bull call spread on this stock:
Buy 255 call at 5.45
Sell 265 call at 2.2
Maximum Risk for this trade is 11375 Rupees.
Maximum Profit potential for this trade is : 23625 Rupees.
Risk Reward Ratio : 1:2
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