Hindalco Ltd.
My favorite among the Metal stock with TATA Steel Ltd. We have seen TATA STEEL good upside with our Signal, at the same time, We gave Hindalco Buy for our clients around 70 levels. Now the Stock is trading around 120 levels, Nearly 70% up from our recommendation.
This is a Weekly Chart of Hindalco, We can see a clear breakout from the falling trend. and a Inverse Head and Shoulder Formation at the bottom. with a Height of approximately 40 Rs. The Neckline is already crossed and the Stock is moving above the neckline. Now the Support will be 112-115 levels and the upside will be approximately 155 levels as per the Head and Shoulder Target, there will be a Resistance around 126 levels. But as the Market is moving in a Bullish phase and the Metal sector is expected to grow with the increasing spending on Infrastructure by the Governments of different countries. We expect Much more from the stock, But Let's settle for 126+ 150 Levels.
The Recommendation in Short
BUY HINDALCO INDUSTRIES LTD. around 118-120 with a stoploss of 112-115 and Take Profit of 126 - 140 - 155
Disclaimer:
The Analyst does not hold any positions or does not have any vested interest in the recommended stock. Follow Strict Risk Management and Consult your Investment Advisor for more details.
You may Consult the Analyst at
WhatsApp : +91 8275 298 208 / Mail : 4x.magician@gmail.com
The Analyst is a SEBI Certified Investment Advisor, Global Market Expert and Fund Manager for Clients across the World. He is having experience of 8 years in Indian Equity Market and Similar experience in Global Market.
The Analyst does not hold any positions or does not have any vested interest in the recommended stock. Follow Strict Risk Management and Consult your Investment Advisor for more details.
You may Consult the Analyst at
WhatsApp : +91 8275 298 208 / Mail : 4x.magician@gmail.com
The Analyst is a SEBI Certified Investment Advisor, Global Market Expert and Fund Manager for Clients across the World. He is having experience of 8 years in Indian Equity Market and Similar experience in Global Market.
