HINDCOPPER Forecast Points to 859–1052 as Wave (5) Begins

Hindustan Copper (NSE: HINDCOPPER) continues to show a strong bullish Elliott Wave structure despite the recent pullback from the February 2026 high. The stock completed wave (2) near 234.52 in September 2025 and then began a powerful rally in wave (3). From that low, price developed a clear five-wave advance and surged into the January-February 2026 peak. Wave (3) extended strongly and topped near the 758 region. Strong buying pressure and bullish momentum supported the advance throughout the rally. The move also formed clean impulsive subdivisions, reinforcing the view that the larger trend remains bullish.

After wave (3) ended, Hindustan Copper entered a corrective phase in wave (4). The decline unfolded as an A-B-C structure and reached a low near the 445 region. Importantly, the correction held within the key Fibonacci support area between 479.35 and 394.70. Buyers quickly stepped in from this zone and triggered a strong rebound. This reaction suggests that wave (4) has likely ended and that the next bullish phase is already underway.

Following the wave (4) low, Hindustan Copper started a new bullish sequence. The rally from the low appears to have completed wave 1, while wave 2 remains in progress. Once wave 2 ends, the stock should resume higher in wave 3 of (5). This setup is important because it points to more than a short-term bounce. Instead, it suggests the beginning of the final leg higher within the larger bullish cycle that started in June 2022.

Elliott Wave Forecast and Price Targets

From an Elliott Wave perspective, we expect the current wave 2 pullback to finish soon while price remains above 445.70. Once the correction ends, the stock should resume its bullish trend.The minimum target for wave (5) is a break above the previous wave (3) high at 758.85. Such a move would confirm continuation of the larger uptrend.

However, the broader structure suggests significantly more upside. Based on Fibonacci projections and the current wave count, Hindustan Copper could rally toward the 859–1052 area before completing the five-wave cycle from the June 2022 low.

Conclusion

Hindustan Copper remains bullish as wave (4) appears complete at a key Fibonacci support zone. As long as price stays above 445.70, we expect further upside. A break above 758.85 should confirm the next rally, with potential targets in the 859–1052 region.

Source: https://elliottwave-forecast.c...