Friday, 7 November 2008

Hindalco has resistance at Rs 84-90: Mathew

Technical Analyst, E Mathew is of the view that Hindalco Industries has resistance at Rs 84-90.

Mathew told CNBC-TV18, "Hindalco has had a magnificent run and from here, the upside is capped to some extent because we are heading into resistance zone and there is stiff resistance between Rs 84 and Rs 90. Relatively speaking, Nalco looks better just from a trading angle and from here it still has a little more steam left and I wont be surprised if Nalco makes a move of another Rs 25 from the current level."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

Posted by Harsh at 07:22

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