Hindustan Zinc, Vedanta, Hindustan Copper: How to trade these buzzing metal stocks

Indian benchmark indices continued to weaken and ended lower on Monday amid the absence of any major triggers for upside. Traders are awaiting new year and attention is shifting to Q3 earnings besides the US-India trade deal. BSE Sensex dropped 345.91 points, or 0.41 per cent, to settle at 84,695.54, while NSE's Nifty50 tanked 100.20 points, or 0.38 per cent, to close at 25,942.10 for the day.
 

Select buzzing metal stocks including Hindustan Zinc Ltd, Vedanta, Hindustan Copper Ltd are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers has to say on them ahead of Tuesday's trading session:
 

Hindustan Copper | Avoid | Resistance: Rs 546 | Support: Rs 460

Hindustan Copper is currently trading well above all its key moving averages, indicating that the broader trend remains strong. However, in today’s session, the stock witnessed selling pressure from higher levels, suggesting profit booking near the day’s high. On the technical indicator front, both MACD and RSI are placed in overextended zones, which often signals a near-term pause or corrective phase after a sharp up-move. Given this setup, the risk–reward for fresh long positions appears unfavourable at the current juncture. Traders are therefore advised to avoid initiating new buy positions and instead consider booking or locking in profits at higher levels. On the downside, immediate support is placed near the Rs 460 zone, while on the upside, the Rs 546 level is likely to act as a strong resistance in the near term.
 

Vedanta | Caution | Resistance: Rs 616 | Support: Rs 580

Vedanta Ltd is quoting significantly above its key moving averages at the present stage, highlighting the strength of the prevailing uptrend. However, the latest trading session saw selling pressure emerge near the intraday peak, pointing towards profit booking at higher levels. From a momentum perspective, both RSI and MACD are positioned in stretched territory, suggesting that the recent rally may be losing steam in the near term. Moreover, the appearance of a bearish engulfing pattern on the daily chart raises caution and hints at possible short-term consolidation or a mild corrective move. Considering this technical backdrop, initiating fresh long positions may not offer a favourable risk–reward setup. Traders are advised to refrain from new buying and instead secure gains at elevated levels. Immediate support is placed near Rs 580, while Rs 616 is likely to act as a strong resistance.
 

Hindustan Zinc | Avoid | Resistance: Rs 656 | Support: Rs 600

Hindustan Zinc is currently trading well above all its major moving averages, reflecting a strong underlying trend. However, during today’s session, the stock faced selling pressure from the day’s high, indicating profit booking at elevated levels. On the indicator front, both MACD and RSI appear overextended, which often points to exhaustion after a sharp rally. Additionally, the formation of a bearish engulfing pattern on the daily chart signals a potential short-term reversal or consolidation phase. In view of this technical setup, the risk–reward for fresh long positions looks unfavourable at present. Traders are advised to avoid new buys and consider locking in profits at higher levels. On the downside, Rs 600 acts as an important support, while Rs 656 is expected to remain a key resistance in the near term.