Hindalco Industries Limited Stock Forecast
Hindalco Industries Limited stock price down 0.87% on Tuesday
(Updated on Apr 30, 2024)
The Hindalco Industries Limited stock price fell by -0.87% on the last day (Tuesday, 30th Apr 2024) from ₹650.05 to ₹644.40. During the last trading day the stock fluctuated 1.77% from a day low at ₹642.30 to a day high of ₹653.70. The price has risen in 7 of the last 10 days and is up by 5.17% over the past 2 weeks. Volume has increased on the last day by 615 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately ₹3.07 billion.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹651.48 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.19% during the next 3 months and, with a 90% probability hold a price between ₹644.74 and ₹750.47 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HINDALCO.NS Signals & Forecast
The Hindalco Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹636.71 and ₹578.48. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.87%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, June 30, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, June 30, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Hindalco Industries Limited stock
Hindalco Industries Limited finds support from accumulated volume at ₹612.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹11.40 between high and low, or 1.77%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: ₹626.03 (-2.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (HINDALCO.NS) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Hindalco Industries Limited to open at ₹646.80, and during the day (based on 14 day Average True Range), to move between ₹628.40 and ₹660.40, which gives a possible trading interval of +/-₹16.00 (+/-2.48%) up or down from last closing price. If Hindalco Industries Limited takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹646.80 (0.37%) than the support at ₹612.70 (4.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hindalco Industries Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hindalco Industries Limited stock to perform well in the short-term.
Current score: 2.930 Buy Candidate Unchanged
Predicted Opening Price for Hindalco Industries Limited of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| ₹646.80 ( 0.372%) | ₹644.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDALCO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 658.20 | 2.14 % | |
| R2 | 653.85 | 1.47 % | ||
| R1 | 651.15 | 1.05 % | ||
| Current price: | 644.40 | |||
| Support | S1 | 642.45 | -0.303 % | |
| S2 | 639.75 | -0.721 % | ||
| S3 | 635.40 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 650.05 | 0.88 % | |
| R2 | 649.30 | 0.760 % | ||
| R1 | 646.80 | 0.372 % | ||
| Current price | 644.40 | |||
| Support | S1 | 612.70 | -4.92% | |
| S2 | 511.80 | -20.58% | ||
| S3 | 510.10 | -20.84% |
HINDALCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 11, 2022 | Aug 11, 2022 | Aug 11, 2022 | ₹4.00 | 0.92% |
| 2 | Aug 12, 2021 | Aug 12, 2021 | Aug 12, 2021 | ₹3.00 | 0.686% |
| 3 | Jun 12, 2020 | Sep 03, 2020 | Sep 10, 2020 | ₹1.00 | 0.566% |
| 4 | May 16, 2019 | Aug 14, 2019 | Aug 30, 2019 | ₹1.20 | 0.651% |
| 5 | May 16, 2018 | Sep 12, 2018 | Sep 25, 2018 | ₹1.20 | 0.494% |
FAQ
Click here for our free guide on how to buy Hindalco Industries Limited Stock.
