The stock hit a 52-week high of Rs 145.70 on 18 October 2023, but it failed to hold on to the momentum and corrected in line with the broader markets. The stock fell more than 9% in a week compared to about 1% fall seen in the Nifty50.
Top stock picks for today: Kiran Jani said Hindalco saw multiple bullish pattern breakouts. "It is trading above all its important moving averages. One should go long at the current market price for a target price of Rs 480, keeping a stop loss placed at Rs 454", the market expert stated.
The stock which hit a high of Rs 1,470 on 17th November 2021 failed to hold on to the momentum. The stock found support a year after around Rs 356 on 17th November 2022 – which translates into a fall of more than 70%.
Jani said Adani Enterprises had been trading in a small range for a considerable period but saw some spark on Monday. He suggested buying shares of Adani Enterprises at around Rs 2,490 for a target of Rs 2,550 level.
The stock fell more than 30% from its listing day high. LIC listed on bourses on 17th May 2022 and made a high of Rs 920. The stock closed at Rs 622 on 18th July 2023 which translates into a fall of nearly 33%.