discounted stock HINDALCO

Technical Analysis Summary:
Trend Analysis: HINDALCO INDUSTRIES LTD is currently exhibiting a bullish trend, characterized by higher lows and higher highs. The stock has shown strong upward momentum.
Breakout Level of 2021: Significant interaction with this level, indicating its importance.
Candlestick Pattern & Price Action: Bullish Engulfing and Doji patterns suggest potential bullish reversals and strong buying interest.
Conclusion:
The stock is currently in a potential buy zone within the green reversal area.
Monitor key support and reversal levels for potential price movements.
The RSI and volume indicate a neutral position with significant trading activity, supporting a potential reversal if buying pressure increases.
Key Levels:
Support Zone (Yellow): Between ₹556-₹603 . This is the range where the stock has shown buying interest and potential support.
Reversal Zone (Green): ₹608-₹639 This zone indicates a potential area for price reversal and is likely where buyers might step in.
Target Levels: ₹728.35 (Target 1), ₹774.75 (Target 2), ₹833.90 (Target 3)
RSI (Relative Strength Index) and Volume:
RSI: The Relative Strength Index (RSI) is currently at 47.02, indicating a neutral position. It suggests that the stock is neither overbought nor oversold.
Volume: The recent volume is 9.01M, showing significant trading activity around key levels.