After the HDFC bank stock, Hindalco Industries Ltd is another stock which shows the same characteristics as the HDFC bank. Hindalco has given good returns in the past but in the last year, it has struggled to provide any positive results. After touching Rs 601 level this stock has decreased to Rs 500. The good point about this stock is that it shows a very strong resistance near the Rs 500 and so far, it has succeeded in floating above this price. In future, Hindalco can again reach Rs 600 levels which is its upper resistance and if it succeeds in breaking it then it will definitely make new levels above Rs 600. Many financial experts have put this stock in the buy category with an upside up to 25%.
Hindalco stock comes under the balanced risk category and as the company enjoy a high financial strength. The stock of Hindalco is also available at an attractive price as compared to its peers. The chart of Hindalco is also shows a reversal to the positive side so we can expect Hindalco to perform better in near future. Many financial experts and firms have changed rating positive for Hindalco from negative in recent past. People looking to add one good stock in their portfolio can add Hindalco for some positive returns in near future.
Present Price- 502
Action- Buy in small portion
Future Potential- 25% increase after crossing upper resistance.
Risk Level- medium
Future potential – 600-650 (1 to 1.5 yr time frame)
Stop Loss – 480
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