Hindalco Industries Ltd - Breakout OpportunityDate : 26-Mar-2024
Rating : Buy - Positional Trade
LTP : Rs. 558.65
Targets: (1) Rs. 620 --> (2) Rs. 636 --> (3) 675
SL : Rs. 515
Technical View:
• NSE:HINDALCO is in its primary uptrend since end of Jun 2023 and was recently going through it's secondary downtrend.
• After touching the high of 608.95 on 8-Feb-2024, it has retraced 18% to 499 level.
• NSE:HINDALCO has broke out from its secondary down trend on 15-Mar-2024 with higher then average volume.
• RSI has crossed 50 on 21-Mar
Long
