Price and trend forecast of HINDALCO for Tomorrow, Weekly, Monthly
Hindalco Industries Limited
Symbol: NSE:HINDALCO
ISIN: INE038A01020
622.65
As on 2024-12-20
HINDALCO's Today's Performance
Hindalco Industries Limited started the day by opening at 629.35 today 2024-12-20. Its shares reached a high of 640.60 and dipped to a low of 620.70 in intraday. When the markets closed, HINDALCO’s stock price settled at ₹622.65 per share. Also check out its key support and resistance levels.
HINDALCO Buy/Sell Targets
Tomorrow, sell HINDALCO when its price reaches ₹ 622.65 with a stop-loss order at ₹ 631.46. You can set the target price as ₹ 613.84 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of HINDALCO for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for HINDALCO
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 635 |
| Tomorrow Down Target 2 | 648 |
| Tomorrow Down Target 3 | 655 |
Important Levels for HINDALCO
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 615 |
| Tomorrow Up Target 2 | 608 |
| Tomorrow Up Target 3 | 595 |
Based on where the stock opens tomorrow, if HINDALCO opens on a positive note, our first target will be ₹635. If Target 1 is achieved, we will aim for Target 2 which is ₹648.
But if HINDALCO falls below the average value of ₹627.98, you can enter a sell side position with target number 1 - ₹615 and second target - ₹608 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of HINDALCO
Looking at HINDALCO, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, HINDALCO has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for HINDALCO is strong bearish.
Tomorrow's Volume based share price Forecast for HINDALCO
HINDALCO's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 8%.
Reversal detection for HINDALCO
HINDALCO may trend may continue to be bearish since stock is making lower low and we can get target of ₹626 in morning tomorrow
| Target 1 tomorrow | 636 |
| Target 2 tomorrow | 640 |
| Target 3 tomorrow | 648 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with HINDALCO's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if HINDALCO opens on a positive note, our first target will be ₹635.27. If Target 1 is achieved, we will aim for Target 2 which is ₹647.88.
But if HINDALCO falls below the average value of ₹627.98, you can enter a sell side position with target number 1 - ₹615.37 and second target - ₹608.08
HINDALCO's Weekly Targets
| 1st Up Target | 654.80 |
| 2nd Up Target | 686.95 |
| 1st Down Target | 602.30 |
| 2nd Down Target | 581.95 |
As the week for HINDALCO ended on bearish sentiments, we can expect further continuation of this sentiment. HINDALCO's initial target will be 654.80 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 602.30 in the upcoming week.
Weekly OHLC Values
| Open | 661.30 |
| High | 666.60 |
| Low | 614.10 |
| Close | 622.65 |
Week for HINDALCO started with an open price of 661.30, and the close was at 622.65. HINDALCO reached the highest of 666.60 and dipped lowest up to 614.10 last week. This indicates a bearish sentiment for the week.
HINDALCO full month swing targets
| Monthly Up Target 1 | 707.30 |
| Monthly Up Target 2 | 739.45 |
| Monthly Down Target 1 | 549.80 |
| Monthly Down Target 2 | 476.95 |
Targets of ₹707.30 can be expected to be reached in the coming month. Once HINDALCO achieved this target, we can aim for the next upside target of ₹739.45.
HINDALCO if fails to hold upside, down targets of ₹549.80 and ₹476.95 can be achieved by end of this month.
For complete three weeks if HINDALCO is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as HINDALCO
| Symbol | Name | Industry |
|---|---|---|
| ULTRACEMCO | UltraTech Cement Limited | Building Materials |
| ASIANPAINT | Asian Paints Limited | Specialty Chemicals |
| JSWSTEEL | JSW Steel Limited | Steel |
| TATASTEEL | Tata Steel Limited | Steel |
| GRASIM | Grasim Industries Limited | Building Materials |
Summary
HINDALCO is expected to reach the target of 635.27 in tomorrow's trading session.
After achieving the initial target in HINDALCO, we will aim for higher targets of 647.88 tomorrow.
However, if HINDALCO starts to trade below ₹627.98, then we will shift our focus to the sell side and aim for down targets of 615.37 and 608.08.