The outlook for the stock of Hindalco Industries (₹1,037.40) remains positive. Immediate support levels are ₹962 and ₹866. A close below the latter will change the short-term outlook negative. 

On the other hand, if the current trend sustains, the stock could move towards ₹1,190. We expect the stock to move higher.

F&O pointer: Hindalco September futures closed at ₹1,042.60 on Friday, at a healthy premium against the spot close of ₹1,037.40. The counter has been moving sideways in the last few days.

Open interest increased from 1.02 crore shares to 4.8 crore shares in the last 10 days. This along with the premium suggests accumulation of long positions. Option trading indicates that the stock could move between ₹960 and ₹1,100.

Strategy:  We suggest buying Hindalco futures (Sep) now and keeping an initial stop-loss at ₹995. Stop-loss can be shifted to ₹1,020 if the stock opens on a steady-to-positive note.

This strategy is strictly for traders with high risk tolerance, as metal sector stocks are prone to high volatility driven by global events.

Traders can aim for a target of ₹1,078. As the contract moves higher, traders can raise the stop-loss to protect the profits.

This strategy is not applicable if Hindalco Industries opens above ₹1,050 or below ₹1,020.

Follow-up: Tech Mahindra saw sharp volatility last week. It did reach our expected target, though the move was choppy and would have tested traders’ patience along the way.

Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading

Published on August 29, 2026