Warning-
Hindalco offers a buy-side technical rationale as it finds support at the key 50-DEMA (~₹687) after retracing from recent highs, forming a bullish divergence on RSI(14) at oversold 37 with Stochastic rebounding from 18, signaling exhaustion selling. Volume pickup on the bounce above pivot ₹928 confirms institutional buying interest, while MACD histogram narrows positively near zero line ahead of metals rebound on crude stabilization. Break and sustained close above ₹950 targets immediate resistance at ₹992-1,055 with 5-7% upside potential, aligning with higher low pattern intact.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.
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