Hindalco Industries Ltd (HINDALCO) presents a compelling buy-side technical rationale trading at ₹961.3 above both 50-day MA ₹908.74 and 200-day MA ₹769.29, confirming strong uptrend structure despite -0.48% intraday pullback from previous close ₹965.95 with support holding near day low ₹943.95. RSI around 56 signals healthy momentum without overbought risks, while MFI 72.36 indicates strong buying pressure and price above key pivot ₹953-962 targets initial resistance ₹975-984 amid metals sector rotation. Volume at 3.27M (below avg 5.75M) suggests low-risk accumulation setup; favorable risk-reward with stop below ₹944 for 3-5% upside potential ahead of Q3 results.
Warning-
Disclaimer– Registration granted by SEBI, membership of a SEBI recognized supervisory body (BSE) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclosure– Investments in securities market are subject to market risks, read all the related documents carefully before investing.