Hindalco is about to complete Head and Shoulder

Hindalco hits 52 week low today. As everyoney is on buy call and recommending about to hold,buy, or average and giving the targets of 140-60 in context to its result,financials, growth prospects blaa.-blaaaa,,,. As i don't bother about the fundamentals and stay in the side price movement and technical levels. On weekly charts hindalco is about to complete its right shoulder of Head and shoulder pattern and if it fails to sustain below 109 then may rebound only .IF it get succeed below 109 and sustain then we may see heavy volume selling in the stock and it will lead the stock towards 85/70 . SO my recommendation to my friends will be to sell below 109 for target of 90 with sl of 114 and till the time being stay in buy or fresh buy in stock for a bounce back with strict stoploss of 108.50 on closing basis. ..rmoneyguru.blogspot.com