According to reports from The Economic Times, Hindalco Industries Ltd has formed a double bottom pattern after experiencing a significant decline. The aluminium industry stock bounced back after testing previous support levels in the last week of July 2026, suggesting bulls are attempting a comeback. The stock had previously hit a high of ₹1,179 on May 29, 2026, but failed to maintain the momentum and closed at lower levels.
As reported by The Economic Times, experts suggest that short-term traders with a high-risk profile can consider buying the stock for a potential target towards ₹1,100 levels in the next couple of months. The technical indicators and price action support a bullish outlook for Hindalco Industries, with the double bottom pattern indicating a possible trend reversal from the recent decline.
According to the report, the stock's recovery comes after it fell over 14% from its highs, indicating a significant correction from its peak performance. The technical pattern formation suggests that the stock may be stabilizing after testing key support levels, with experts viewing this as a potential buying opportunity for traders seeking exposure to the aluminium sector.
