Technical Analysis Hindalco Industries

The stock

has shown a strong recovery after correcting from its recent high near ₹1170. The stock has formed a higher low and is now making higher highs indicating that buyers have regained control. The recent rally with strong momentum suggests a continuation of the uptrend provided the stock sustains above key support levels. The stock has successfully bounced from the ₹940–960 demand zone and is now approaching a crucial resistance area around ₹1070–1100. The overall chart structure remains positive. Hindalco has immediate support in the ₹1000–1020 zone followed by a stronger support around ₹950–970 where buyers previously stepped in aggressively. On the upside the stock faces immediate resistance at ₹1070–1100 while the next major hurdle is near ₹1150–1170 which is also the previous swing high. A strong close above ₹1100 with healthy volume can pave the way for a move towards fresh highs. Short-term buyers can consider fresh entry if Hindalco sustains above ₹1100 with strong volume. Existing holders can continue holding as long as the stock remains above ₹1000 as the trend is still positive. A break below ₹1000 may lead to profit booking while a breakout above ₹1100 could push the stock towards ₹1150–1170 in the short term.