Hindustan Copper - A rebound in Metal stocks

Hindustan Copper is showing a meaningful recovery on the daily chart after spending several weeks in a corrective phase, with the stock now trading around ₹574 and firmly above both its 20-day moving average at ₹530.7 and 50-day moving average at ₹512.7. The improving price structure indicates that buying interest is returning, while the shorter-term moving average has also turned upward, supporting a positive near-term trend. From a sector perspective, copper remains strategically important for power transmission, renewable energy, electrification, infrastructure, EVs and broader industrial activity, keeping the long-term demand outlook constructive. Technically, the recent move from the ₹480–500 zone has developed into a strong rebound, with price reclaiming the ₹530–550 region and sustaining above the major moving averages. The immediate hurdle is around ₹590–600, followed by the previous swing zone near ₹620–630; a decisive close above this band can strengthen the breakout structure and open room toward ₹650 and higher levels. On the downside, ₹550–530 should act as the first important support zone, while ₹512 remains the broader trend support. As long as the stock sustains above these levels, the bias remains positive and buying on meaningful dips can be considered, with a sustained move above ₹600 providing stronger confirmation of the next leg higher.