Buy and Hold....

Buy Hindalco Ltd Above Rs221 Target Rs 231.5: Hindalco Ltd continues to remain in steady uptrend with counter regaining its control over the short term moving average of 10 & 20 DMA with increase in volume activity. A white candle engulfing a bearish candle in yesterdays trading session can be conceived as positive development in the counter with levels of Rs216 acting as strong support from hereon. A positive crossover can also be witnessed in daily RSI and long term chart depicts breakout from inverted head and shoulder bottom whose target is yet to be met. We advise buying stock above Rs221 with stop loss of Rs216 for Target of Rs231.5