HindCopper (M): Very Bullish, but at a major inflection pointThe stock has successfully completed a multi-decade base breakout and is now challenging its final long-term resistance. The momentum is bullish, but a new ATH will require a confirmed break of the 2010 trendline.
📈 1. The Long-Term Context (The "Big Picture")
- Parabolic Uptrend: After hitting its all-time low in March 2020, the stock has been in a massive bullish uptrend, surging over 2,170% from its bottom.
- Brief Correction: This major move was followed by a healthy, brief downtrend/consolidation that found its low in May 2025, allowing the chart to reset for its next move.
- Recent Rising Volume: Critically, trading volume has been rising significantly in recent months, confirming strong investor interest in this new trend.
🚀 2. The Current Breakout (The Decisive Move)
The stock is currently navigating two of the most significant resistance levels on its multi-decade chart:
1. Jan 2012 Horizontal Resistance: A major structural level that capped all rallies for over 12 years.
2. Jan 2010 Angular Resistance: A long-term downtrend line that forms the final barrier to a new price discovery phase.
In September and October, the stock achieved a major milestone: it broke out and closed above the 12-year horizontal resistance line .
During October, the stock successfully retested this old resistance as new support . While it finished the month with a 3.28% gain on exceptionally high volume , it also formed an "inverted hammer" candle. This candle at a new support level is a sign of a "battle," where sellers tried to push the price down but buyers ultimately stepped in, defending the breakout.
📊 3. Key Technical Indicators
The underlying momentum on higher timeframes supports a bullish resolution:
- RSI: The Relative Strength Index is rising on the Monthly chart, indicating strong, sustained buying momentum.
- EMAs: The short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on the Monthly timeframe, confirming the long-term trend is powerfully bullish.
🎯 4. Future Scenarios & Key Levels to Watch
The stock is currently coiled less than 15% below its final angular resistance from 2010.
🐂 The Bullish Case (Final Breakout)
- Trigger: A decisive, high-volume breakout and close above the 2010 angular resistance trendline .
- Confirmation: This would confirm the start of a new, long-term bull market and put the stock into "blue-sky" price discovery.
- Target: The next logical technical price target is projected to be ₹415 , with a high probability of a move toward a new ATH.
🐻 The Bearish Case (Breakout Failure)
- Trigger: The stock fails to break the 2010 trendline and, more importantly, loses its new support (the 2012 breakout level).
- Confirmation: A high-volume close below the ₹320 support level.
- Target: This failure would signal a fake breakout and could lead to a sharp correction, retesting the next major support level at ₹225 .
Conclusion
This is a high-conviction breakout setup. The successful retest of the 12-year resistance is a very bullish sign. All eyes should now be on the 2010 angular trendline . A break above it would be the final confirmation, while a failure and drop below ₹320 would invalidate the immediate bullish thesis.
