Hindalco has support at Rs 174: Gujral

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Hindalco has support at Rs 174: Gujral

Technical Analyst, Ashwani Gujral is of the view that Hindalco Industries has support at Rs 174. Rs 222 is a significant resistance once that is crossed probably Rs 253 is possible, he added.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Hindalco can go upto Rs 240: R Shah China earthquake sends base metal stocks soaring Eye Hindustan Zinc, Hindalco: E Mathew Hindalco leads gainers on Nifty ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Hindalco See messages about Hindalco Hindalco BSE | NSE 30/05/12 Are Mutual Funds betting on Hindalco? Other Stocks in this news Larsen and Toubro |

Technical Analyst, Ashwani Gujral is of the view that Hindalco Industries has support at Rs 174.

Gujral told CNBC-TV18, "Alluminium seems to be gaining some strength. Hindalco now has support at Rs 174; I think Rs 222 is a significant resistance once that is crossed probably Rs 253 because some of the base metals are gaining ground here."

He further added, " Larsen , L&T is still quite ranging, I do not think one day is worth of move. These stocks are probably going to consolidate for the rest of this year. L&T probably is now ranged between Rs 2,800 and Rs 3,250-3,300. I do not think it is going to cross Rs 3,300 in a hurry."