Hindalco Strengthens Its Position in the Global Metal Space

Technically,

is showing a constructive trend reversal after correcting from the ₹1,150–₹1,180 zone. The stock found strong buying interest around ₹940–₹960 and has since recovered above both its 20-day and 50-day moving averages, currently placed near ₹1,018 and ₹990 respectively. This creates a positive moving-average structure, with the 20-DMA now above the 50-DMA and both averages beginning to turn upward. The recent move towards ₹1,080–₹1,100 indicates improving momentum, although the stock has faced some profit booking from that zone and is currently around ₹1,034. The ₹1,000–₹1,020 region should now act as the first important support, while ₹980–₹990 represents the broader moving-average support. On the upside, a sustained move above ₹1,080–₹1,100 could reopen the path towards ₹1,150–₹1,180 and potentially the previous high zone. The chart therefore suggests that Hindalco is moving back into a bullish phase, with the metal-sector momentum and improving earnings backdrop providing additional support to the technical setup.