⭐ Ultra Equity Advice #103 | Sell | Expected Profit 5-6% | Arijit Banerjee

Sell Range203 – 200
Target192.2 – 190.2
Duration7 – 10 Trading Days
Potential Return^5 – 6%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Return^
201.45SELL203 – 200192.2 – 190.2205.87 – 10 Trading Days5 – 6%

# CP – closing price on Dec 12, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 197.
^ The returns are calculated based on CP#


Hindalco Industries Limited, a subsidiary of the Aditya Birla Group, manufactures aluminium and copper products in India and internationally. The company’s aluminium units encompass the entire gamut of operations, from bauxite mining, alumina refining and aluminium smelting to downstream rolling, extrusions, foils, along with captive power plants and coal mines. Their copper unit, Birla Copper, produces copper cathodes, continuous cast copper rods and other by-products, such as gold, silver and DAP fertilisers. The company reported a consolidated net profit of Rs 974 crore for the quarter ended September 30, 2019, compared to Rs 1448 crore reported during the corresponding period of 2018-19. Net profit dipped 32.80 per cent year-on-year.

Stock Data
Sectoral IndexNifty Metal
52W High228.5
52W Low171.1
Face Value1
Relative Performance_Hindalco vs Nifty Metal Index


  • Looking at the weekly chart, the stock has been trading in a falling channel trend since 2018. The upper bound of this channel also acts a resistance which has been tested several times in the past, thereby making it a strong line to consider.
  • Current price is near the resistance again, and we can expect the price to further fall from here.
Hindalco Technical Analysis - Weekly Chart
Hindalco Technical Analysis - Weekly Chart


  • The recent high also corresponds to the previous intermediate high, which was tested during the last three months.
  • RSI has formed negative divergence on the daily chart. A negative Divergence occurs when the price is moving flat or making higher top at the same time RSI is making a lower top, which indicates loss of buying momentum and a possible rise in trend reversal.
Hindalco Technical Analysis - Daily Chart
Hindalco Technical Analysis - Daily Chart


Based on our positional stock tading tips, Hindalco share price target will be 192.2 – 190.2 in the next few days.


1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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