Hindustan Aeronaut Limited -1-Short & Mid term view
Updated
HINDUSTAN AERONAUT, CMP: 3872.90; RSI: 59.88,
This Defence major has given a decent returns to its investor. The script has a splendid run-up and given returns to a approx. 93.9% in last 7 months time frame. On charts the script has showing some signs of fatigue and the script may be near its peak. The script may peak out in short term at 4100 odd levels. Script may slip into a momentary consolidation phase and plungs down to 3650 to 3450 levles. This levles are good accumulation zone.
Short term Target : 4035-4100
Accumation Zone: Between: 3450-3650
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This Defence major has given a decent returns to its investor. The script has a splendid run-up and given returns to a approx. 93.9% in last 7 months time frame. On charts the script has showing some signs of fatigue and the script may be near its peak. The script may peak out in short term at 4100 odd levels. Script may slip into a momentary consolidation phase and plungs down to 3650 to 3450 levles. This levles are good accumulation zone.
Short term Target : 4035-4100
Accumation Zone: Between: 3450-3650
✅Like and follow, boost to never miss a new idea!✅
Note
Recent Correction because of market volatility is indeed a good buying opportunity for the new investor to take fresh position. Chart Structure is intact.Trade active
Next Resistance for HAL: 5313-5320Short term Target 5693 - 5715 zones (2W times)
Midterm Targets (30 days): 6016 (Target-1); Stretched target 6381 (target-2).
Stop-loss: 5020; Strong support: 4685
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Trade active
Hindustan Aeronaut Limited is trading well above its resistance level (5313-5320), now this resistance is working as big time support zone. Stop loss to be revised upwards to 5300 level.HAL is preparing for the big move and will achieve its Midterm Target (now delayed by 15 days) of 6016 on or before second week of August. Stay invested,
Note
Negative news ( expectations of high defense budget allocation) flows and profit booking after the Union Budget has dragged the script below the earlier defined stop loss of 5020. The HAL chart is still intact and targets of 6016 will be achieved. HAL has now entered in to a consolidation zone and will remain in this for next few weeks. The revised stop loss for the script would be 4685, breach of this level will make this script, very week and can see a freefall.
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