Buy Hindalco Industries at a price target of Rs 227.0 and a stop loss at Rs 208.
Apr 08, 2019, 12.40 PM IST
The current market price of Hindalco Industries is Rs 216.80.Mazhar Mohammad
of Chartviewindia.in has a buy call on Hindalco Industries with a target price of Rs 227.
The current market price of Hindalco Industries is Rs 216.80.
Time period given by the analyst is two weeks when Hindalco Industries price can reach the defined target.
Mazhar Mohammad recommended keeping a stop loss at Rs 208.
“This counter made a strong come back after two days of correction, with a bullish engulfing formation. Recent price behaviour with intermittent strong moves is suggesting strength building into this counter. Though near-term hurdle is placed around 219, as momentum is firming up, we expect this counter to clear the said hurdle and head towards Rs 228 levels. Hence, positional traders should buy into this counter with a stop below 208 on the closing basis and look for a target of 227,” said Mohammad.
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