The analyst highlighted strong technical indicators and a bullish setup for October.
Shares of Hindustan Copper jumped over 4% on Tuesday, tracking a rally in global copper prices after supply concerns pushed U.S. copper futures above $4.8 per pound, marking the highest level in two months.
The gains extended last week’s uptrend as investors assessed the impact of disruptions to mining operations and the fragility of the global metal supply chain.
Freeport-McMoRan, one of the world’s largest copper producers, announced that it declared force majeure on shipments from its Grasberg mine in Indonesia following a deadly mudslide. The mine produces approximately 3% of the world’s copper, contributing to market concerns over supply tightness.
Technical Outlook
SEBI-registered analyst Prabhat Mittal said Hindustan Copper looks strong in a weak market and appears well-positioned for the month of October, coinciding with the festive season.
The analyst noted that the stock has been trading above its breakout levels and remains strong across key moving averages — the 20, 50, 100, and 200-day DMAs — even as several other stocks trade below them.
Mittal shared a buying range of ₹300–₹305, with targets of ₹360 and ₹370, and a stop loss at ₹275.
From a technical standpoint, the stock has been forming higher highs and higher lows on short-term charts after breaking out above ₹295. The moving average convergence divergence (MACD) indicator has also given a buy signal, which Mittal said is another positive sign for the stock’s near-term momentum.
What Is The Retail Mood?
On Stocktwits, retail sentiment was ‘bullish’ amid ‘high’ message volume.
Hindustan Copper’s stock has risen 34.4% so far in 2025.
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