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Last Updated : Nov 05, 2018 10:04 AM IST | Source: Moneycontrol.com

Buy Hindalco Industries, target Rs 253: Dinesh Rohira

It managed to break out from its 200-day level placed at Rs 234 levels coupled with strong volume growth during past sessions and thus indicating a buying sentiment at the current level, says Dinesh Rohira of 5nance.com.

Moneycontrol Contributor @moneycontrolcom
 
 
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Dinesh Rohira

Hindalco Industries remained in an uptrend trajectory during the last week after trading in a range-bound level over the last one month. It made a correction from price-band of Rs 253 levels towards a low of Rs 216, down by about 14 percent before initiating the current rally trend.

It managed to break out from its 200-day level placed at Rs 234 levels coupled with strong volume growth during past sessions and thus indicating a buying sentiment at the current level.

The momentum indicator outlined a positive trend at the current level with RSI at 57 levels gradually moving upward, while MACD is likely to make a bullish crossover in the coming session to trade above its signal line.
Disclaimer: The author is Founder & CEO, 5nance.com. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


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First Published on Nov 5, 2018 10:04 am
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