Hindalco Industries Ltd breaks ₹900 as selling continues

closed at ₹890 after a 2.7% decline, with the session ending near its low. The sharp red candle has pushed the stock below ₹900 and extended the correction from the recent ₹1,150 peak. The stock is well below its 20-day average at ₹969 and 55-day average near ₹997. Both moving averages are now declining and form a major resistance zone on any bounce. MACD remains below its signal line with a negative histogram, confirming that downside momentum is still active. ₹880 is the immediate support, followed by the ₹850 area if selling persists. A recovery needs to reclaim ₹900 first, while ₹969 is the initial meaningful resistance. Hindalco remains sensitive to aluminium and copper prices, global industrial demand and currency movement, but the daily chart currently remains in a corrective phase.