Trade Idea of The Day - Hindalco Industries Ltd Target Rs.28- Religare Broking Ltd
Hindalco Industries Ltd
BUY 30 MAR 950 CALL SELL 30 MAR 1000 CALL Hindalco Industries Ltd Entry Range 18 – 20 Target Range 28 Stop Loss 14
Rationale
* On the daily chart HINDALCO continues to trade above its rising trendline support, reflecting a sustained uptrend structure. The prices are remains well above the 50-DEMA, indicating strengthening short-term momentum.
* RSI is gradually moving higher near the mid-zone, suggesting improving buying interest without entering the overbought territory, which leaves room for further upside in the near term.
* MACD is showing signs of a positive crossover with histogram contraction on the downside, hinting at a potential momentum shift in favour of the bulls.
* On the technical front as long as the price sustains above the 930–920 support zone, the stock may extend its upmove towards 1000 levels in the coming sessions.
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SEBI Registration number is INZ00017433
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