Hindalco – Daily Chart Technical Outlook
The stock has confirmed a neckline breakout on the daily timeframe, followed by a clean retest, validating the breakout structure.
Post-retest, price action has developed a W-bottom formation with a tight box consolidation, indicating accumulation near higher levels.
Currently, Hindalco is attempting to clear the supply zone at ₹720, which has historically acted as a strong resistance.
The latest daily candle is forming an inside bar (₹697–₹719 range), reflecting contraction in volatility – typically a precursor to an impulsive move.
A sustained close above ₹720–₹725 will strengthen the bullish momentum and open the gates for a fresh leg higher towards uncharted zones / new highs.
Immediate support is placed at ₹695–700; as long as this zone holds, the structure remains constructive.
📌 Takeaway:
Hindalco is showing a classic breakout–retest–consolidation setup. A decisive move above ₹725 will likely trigger a trend continuation, while failure to hold ₹695 could delay the breakout.
The stock has confirmed a neckline breakout on the daily timeframe, followed by a clean retest, validating the breakout structure.
Post-retest, price action has developed a W-bottom formation with a tight box consolidation, indicating accumulation near higher levels.
Currently, Hindalco is attempting to clear the supply zone at ₹720, which has historically acted as a strong resistance.
The latest daily candle is forming an inside bar (₹697–₹719 range), reflecting contraction in volatility – typically a precursor to an impulsive move.
A sustained close above ₹720–₹725 will strengthen the bullish momentum and open the gates for a fresh leg higher towards uncharted zones / new highs.
Immediate support is placed at ₹695–700; as long as this zone holds, the structure remains constructive.
📌 Takeaway:
Hindalco is showing a classic breakout–retest–consolidation setup. A decisive move above ₹725 will likely trigger a trend continuation, while failure to hold ₹695 could delay the breakout.
Trade active
today closed good.... will watch carefully
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.