Hindalco – Daily Chart Technical OutlookHindalco – 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.
