Hindalco Industries can test Rs 165: Amit Harchekar

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Hindalco Industries can test Rs 165: Amit Harchekar

Hindalco Industries can test Rs 165, says Amit Harchekar, Sr Technical Analyst - CMT, IIFL India.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Amit Harchekar See what other Experts & Brokerages are saying about Hindalco See messages about Hindalco

Hindalco Industries can test Rs 165, says Amit Harchekar, Sr Technical Analyst - CMT, IIFL India.

Harchekar told CNBC-TV18, "Hindalco has bounced back from the important support zone of Rs 145. I believe this stock is showing good strength. Good accumulation has happened between the range of Rs 135-140, so I don't see this stock going back to that Rs 130 levels."

He further added, "In the near-term I believe this stock could be heading towards Rs 155 and thereafter Rs 165. So I believe Rs 165 would be the area where you can expect some sort of a profit booking in the counter."