Hindalco Industries closed at ₹942.25 on January 7, 2026, higher than the user's CMP of ₹919.50, reflecting recent volatility in metals amid global commodity swings. Technical indicators show overbought conditions with strong uptrend intact above key supports, favoring buy for profits on pullbacks. Bullish momentum persists driven by aluminum price recovery and sector tailwinds.
Technical View
Stock surged 72% from 52-week low of ₹546.45 to high ₹970.80, now consolidating near ₹950 with RSI(14) at 81.23 (overbought), CCI 212, and MFI 91 indicating strong buying but potential cooldown. Classic pivot at ₹949.68 supports range-bound action; volume up 20% average signals accumulation.
Support & Resistance
Level Support (₹) Resistance (₹)
Immediate 935–937
950–954
Major 914–928
963–984
Strong 893–915
998+
Trading Strategy
Buy on dips to ₹910–₹920 aligning with CMP, as uptrend favors longs over sells amid positive metal cues.
Targets: ₹960 (short), ₹1000 (medium), ₹1100+ (long)
Stop Loss: ₹900 (protects below recent lows)
Timeframe Views
Short-term (1–5 days): Range-bound with upside bias if holds ₹935; target ₹960 amid overbought pullback.
Medium-term (1–4 weeks): Accumulate ₹910–₹920 for ₹1000; trendline breakout confirmed.
Long-term (3–12 months): Strongly bullish on fundamentals; hold for higher highs post-consolidation.
SHREEJI FINANCE & INVESTMENT AHMEDABAD PHONE :- 07949258292
No comments:
Post a Comment