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Price and trend forecast of HINDALCO for Tomorrow, Weekly, Monthly

Hindalco Industries Limited

Symbol: NSE:HINDALCO

ISIN: INE038A01020

608.85

As on 2024-04-16

397.80 (52W Low) 625.40 (52W High)

HINDALCO's Today's Performance

Hindalco Industries Limited started the day by opening at 612.70 today 2024-04-16. Its shares reached a high of 621.40 and dipped to a low of 606.80 in intraday. When the markets closed, HINDALCO’s stock price settled at ₹608.85 per share. Also check out its key support and resistance levels.

HINDALCO Buy/Sell Targets

Tomorrow, sell HINDALCO when its price reaches ₹ 608.85 with a stop-loss order at ₹ 616.86. You can set the target price as ₹ 600.84 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 support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for HINDALCO

Resistance Levels Value in ₹
Tomorrow Resistance 1 618
Tomorrow Resistance 2 627
Tomorrow Resistance 3 633

Important Supports for HINDALCO

Support Levels Value in ₹
Tomorrow Support 1 603
Tomorrow Support 2 598
Tomorrow Support 3 589
Based on where the stock opens tomorrow, if HINDALCO opens on a positive note, our first target will be ₹618. If Target 1 is achieved, we will aim for Target 2 which is ₹627.

But if HINDALCO falls below the average value of ₹612.35, you can enter a sell side position with target number 1 - ₹603 and second target - ₹598 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 Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for HINDALCO is strong bullish.

Tomorrow's Volume based share price Forecast for HINDALCO

HINDALCO's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 8%.

Reversal detection for HINDALCO

Predicted trend chart of HINDALCO tomorrow for price forecast
HINDALCO may trend may continue to be bearish since stock is making lower low and we can get target of ₹615 in morning tomorrow
Target 1 tomorrow618
Target 2 tomorrow621
Target 3 tomorrow627
 

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 ₹617.90. If Target 1 is achieved, we will aim for Target 2 which is ₹626.95.

But if HINDALCO falls below the average value of ₹612.35, you can enter a sell side position with target number 1 - ₹603.30 and second target - ₹597.75

HINDALCO's Weekly Targets
1st Up Target 620.93
2nd Up Target 633.02
1st Down Target 601.23
2nd Down Target 593.62

As the week for HINDALCO ended on bearish sentiments, we can expect further continuation of this sentiment. HINDALCO's initial target will be 620.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 601.23 in the upcoming week.

Weekly OHLC Values
Open 615.00
High 625.40
Low 605.70
Close 608.85

Week for HINDALCO started with an open price of 615.00, and the close was at 608.85. HINDALCO reached the highest of 625.40 and dipped lowest up to 605.70 last week. This indicates a bearish sentiment for the week.

HINDALCO full month swing targets
Monthly Up Target 1 640.63
Monthly Up Target 2 652.72
Monthly Down Target 1 581.53
Monthly Down Target 2 554.22

Targets of ₹640.63 can be expected to be reached in the coming month. Once HINDALCO achieved this target, we can aim for the next upside target of ₹652.72.

HINDALCO if fails to hold upside, down targets of ₹581.53 and ₹554.22 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.

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Summary

HINDALCO is expected to reach the target of 617.90 in tomorrow's trading session.

After achieving the initial target in HINDALCO, we will aim for higher targets of 626.95 tomorrow.

However, if HINDALCO starts to trade below ₹612.35, then we will shift our focus to the sell side and aim for down targets of 603.30 and 597.75.