Hindalco Makes Golden Cross - Bullish Momentum Shows Target of ₹740 | Best Stock to Buy Now

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 Hindalco Stock Analysis: Golden Cross Signals a Bullish Rally

In the world of stock market trading, technical analysis plays a vital role in predicting future price movements. One such powerful indicator that excites traders and investors is the Golden Cross pattern. Recently, Hindalco's 1-day chart has flashed this bullish signal, indicating potential upward momentum. In this blog, we will perform an in-depth Hindalco stock analysis, highlighting key support and resistance zones, moving average crossovers, and potential future price action.

What is a Golden Cross?

A Golden Cross pattern occurs when the 50-day exponential moving average (50 EMA) crosses above the 200-day exponential moving average (200 EMA). This crossover is considered a strong bullish signal, indicating a potential trend reversal and the start of a new uptrend.

Hindalco's Golden Cross: A Bullish Signal

On the Hindalco 1-day chart, we can clearly observe the 50 EMA crossing above the 200 EMA, forming a Golden Cross. This technical pattern has historically resulted in significant price appreciation in stocks and indices.

Key Technical Indicators

  1. Support and Resistance Zones:

    • Strong support at ₹680 level, where the price is consolidating after a recent breakout.
    • Immediate resistance at ₹720-740 zone, which was a previous supply zone.

  2. RSI (Relative Strength Index):

    • The RSI is currently around 64.07, indicating that the stock is in a healthy bullish zone without being overbought.

  3. TSI (True Strength Index):

    • The TSI line is above the signal line, further confirming the bullish momentum.

  4. Trading Volume:

    • A surge in trading volume supports the strength of the breakout and confirms the bullish trend.

Potential Price Targets

  • Short-term target: ₹740
  • Medium-term target: ₹780
  • Long-term target: ₹820

Why is Hindalco a Strong Buy Now?

  • Golden Cross confirmation signals a strong upward trend.
  • Institutional buying interest and increased trading volume.
  • Positive sentiment in the metals and mining sector.
  • Strong support from the global aluminum market uptrend.
  • Strong fundamentals and robust quarterly performance.

Best Entry Point

For swing traders and long-term investors, accumulating near the ₹680-700 zone with a stop-loss below ₹650 can be a high-probability trade setup.

Conclusion

The recent Golden Cross in Hindalco's stock chart is a highly bullish signal, supported by strong technical indicators like RSI, TSI crossover, and volume breakout. With increased volume, positive market sentiment, and solid fundamentals, Hindalco is poised for a potential breakout towards higher levels.

FAQs

1. Is Hindalco stock a good buy now? Yes, the Golden Cross pattern indicates a bullish breakout, making it an ideal buy for medium to long-term investors.

2. What is the target price for Hindalco in 2025? Based on technical analysis, ₹780-820 is a realistic target in the coming months.

3. How reliable is the Golden Cross pattern? The Golden Cross is a proven bullish signal, especially when supported by higher volume and strong fundamentals.



Location: India

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