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HINDCOPPER
gained 1.7% to ₹371.9, extending its breakout from consolidation as copper prices globally trend higher. The strong volume spike signals renewed institutional participation.
Technical View:
Price rallied above 9-EMA (₹345.7) with consistent higher-lows.
RSI (14) at 68.5, showing robust momentum nearing breakout territory.
Volume expansion supports trend continuation.
Support: ₹355 | Resistance: ₹380–₹392 | Bias: Bullish breakout setup.
Fundamental View:
Beneficiary of global copper demand surge driven by EV and renewable sectors.
Capacity expansion plans and better grade output expected to boost topline growth.
Government backing for domestic metal production adds further long-term strength.
Outlook:
Momentum remains intact; sustained move above ₹380 can trigger a fresh leg higher toward ₹395–₹410.#EquityResearch#TechnicalViews#FundamentalViews#StockInNews
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