Hinduja foundries stock today on 7 October 2016 closed at 35.55 with 6% gains. On daily chart, stock price is in downtrend and we saw sharp selloff around 55-60 zone. Stock has recently recorded low around 29. Technically prices are oversold due to news flows as well as market passiveness. Daily chart indicators are bouncing back from oversold zones and today 6% move confirmed it. HINDUJAFO stock is buy and accumulate opportunity for short term traders. On downside 29 and 21 are historical support zones for stock while on upside 39.95 I major resistance. Current recovery move will have immediate target at 39.95. Above 39.95 stock will change its trend to bull side for target 49.9. Which is stocks medium term target. HINDUJAFO stock on weekly chart, is in strong downtrend but highly oversold. On weekly chart, stock made bottom at 30 rupees. Here also 39 rupee is major hurdle and if stock crosses that then expect next long term target at 55 rupee which was previous high for stock from where we saw sharp fall.