Buy Hindalco for target of Rs 161: Nirmal Bang

MUMBAI: Nirmal Bang has advised traders to buy Hindalco for target of Rs 161.

“The structure looks positive as Hindalco Industries is holding strongly above its 50-DMA of Rs 149 which is a very optimistic sign. Near term resistance is seen at Rs 154 and above this point we could see a strong move up to Rs 161. Hold with a stop-loss of Rs 151 and then Rs 149,” the report said.