Daily Sentiment: Neutral.
Weekly Sentiment: Bullish.
Trend Strength: –
First Target: –
HINDALCO is forming Double Top pattern. Actually it has formed already 99% of it, need only close below 229 to confirm pattern.
While HINDALCO holds below Pivot point this is very likely scenario.
Close below 229 would result in more than 20% fall towards next support zone which is main target.
Close below it would confirm further weakness.
Close above Pivot point is what bulls need right now.
Of course, it does not guarantee further rise but chances would increase significantly.