Hindalco has been in the channel for long, and also has been testing resistance at 202. If it closes above 202 on daily basis then it can very well go to 220-225.
If it fails to break 202 then it's going to drop again to 190 odd level after touching 202.
If it fails to break 202 then it's going to drop again to 190 odd level after touching 202.
Comment:
Its broken out of channel and at a very crucial support around 180. If 180 breaks on closing basis, look for shorting opportunity.
Comment:
Hindalco is looking to break the barrier of 202 and also coming back in the channel. If it manages to close above 202 today, look for bigger bull run in it.