Hindustan Copper zooms 44% in 1-month; here's why you need to be cautious

Hindustan Copper stock is seen trading close to its key monthly trend line resistance, hence one needs to be cautious as the stock rises further; suggests charts.

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Hindustan Copper stock has rallied up to 43.6 per cent in the last one month from levels of around ₹243 to an intra-day high of ₹349 in Tuesday's trade.  As of 11:30 hrs., the stock was quoting 1 per cent higher at ₹341. In comparison, the BSE Sensex was up 0.2 per cent at 81,980, and the NSE Nifty was up 0.2 per cent at 25,130.  The recent rally at the counter was attributed to the renewal of Rakha mining lease deed between the company and District Commissioner (DC), Jamshedpur for an extended period of 20 years, and subtle gains in copper prices. Read More  Amid the recent rally, Hindustan Copper stock is now seen trading above its key moving averages across time-frames; and seems to be favourably placed as per the price-to-moving averages action, with shorter-term moving averages quoting above the longer-term averages.  However, the long-term chart flags a sign of caution as the stock is now seen trading within striking distance of the key trend line resistance on the monthly scale. 

Here's all you need to know on Hindustan Copper stock outlook.

Hindustan Copper

Current Price: ₹341  Likely Target: ₹361 / 296  Upside Potential: 5.9%  Downside Risk: 13.2%  Support: ₹329  The monthly chart shows that the key super trend line hurdle for Hindustan Copper stock stands at ₹361 - which is roughly 5.9 per cent from present levels. The stock has been languishing below this key long-term hurdle post the breakdown in February 2025. 

 

  In other words, the upside for the stock is likely to be limited as long as the stock does register a monthly close above ₹361 levels.  Meanwhile, the weekly chart suggests that the near-term bias for Hindustan Copper is likely to remain upbeat as long as the stock quotes above ₹329 levels - i.e. the higher-end of the weekly Bollinger Bands. Break and sustained trade below ₹329 can trigger some consolidation at the counter.  On the downside, the stock can potentially correct towards ₹308 - ₹296 levels - which will be the 38.2 per cent and 50 per cent retracements of the recent rally. Thus implying a potential downside risk of 13.2 per cent from current levels.