HINDALCO MAY MORE DOWN

HINDALCO is a larger aluminium producer company, which is currently near 52 weeks low, On Friday session it was trading at 134.15. The future data indicates  that more short position has added in October series. It was the top loser's list in Nifty on Friday also. Due to  lower commodity prices, it may have more downsides it may go around 120 in next few sessions. Fundamentally stock is trading lower on its book-value, which is around Rs 155.  lower commodity prices may affect its margin in FY 2012. Short sell is advised in Hindalco at any rise.