Metal stocks: Basumallick said if an investor has holdings in any one of the stocks, and if they have a very clear view of the underlying metal, they might want to hold on or start selling slowly.
The sharp pullback has dragged silver below key moving averages, pointing to short-term bearish pressure and an ongoing correction, even as the longer-term trend remains positive, said Ponmudi R, CEO of Enrich Money.
An analyst from Anand Rathi said that Bharat Dynamics Ltd is trading below its 200-DEMA, which indicates prevailing weakness in the broader trend.
Hindustan Copper shares plunged 17.43 per cent to hit a low of Rs 566.85. Hindustan Zinc Ltd and National Aluminium Company Ltd hit their respective 10 per cent lower circuit limits at Rs 566 and Rs 346.25, respectively.
Budget 2026: Anand Rathi Share said a new policy framework supporting ‘Make in India’ is expected to reduce import reliance. This strategic shift is a major positive for Hindustan Copper, GMDC and Hindustan Zinc, it said.
Kiran Jani said that the 25,000–24,800 range would act as a strong support zone for Nifty and could be seen as an accumulation area. On the upside, he identified 25,300 as a crucial resistance level. "Only a decisive closing above the said level can trigger further upside," he told Business Today.
After witnessing a strong demand from institutional investors, Vedanta Ltd-led Hindustan Zinc's offer-for-sale shall open for subscription for on Thursday, January 29.
Shares of Hindustan Zinc are in focus as parent company Vedanta has launched an offer for sale to offload up to 1.59 per cent of its total holdings in the company.
The announcement of the OFS comes after a 51% rally in Hindustan Zinc stock in three months.
According to the company's Q3 FY26 investor presentation, Hindustan Zinc remains India’s only integrated and listed silver producer.
Hindustan Zinc highlighted that its silver revenue for the quarter stood at Rs 2,676 crore, a massive 83 per cent jump year-on-year.





