Hindustan Aeronautics Ltd - Breakout Opportunity
Updated
Date: 6-Jun-2024
Rating: Buy - Positional Trade
LTP: Rs. 4,666.60
Targets: (1) Rs. 5,444 --> (2) Rs. 6,385
SL: Rs. 4,044 on daily close basis
Technical View:
•
HAL is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 5,444 on 3-Jun-2024, it has retraced 28% to 3,920 level.
• On 6-Jun-2024,HAL has broke out from its secondary down trend with higher than average volume.
• Prices are trading above 21 DEMA and 50 DMA.
• RSI is trading at 53.63 and MACD is trading at 202.50.
• Looking good to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 4,666.60
Targets: (1) Rs. 5,444 --> (2) Rs. 6,385
SL: Rs. 4,044 on daily close basis
Technical View:
•
HAL is in its primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 5,444 on 3-Jun-2024, it has retraced 28% to 3,920 level.
• On 6-Jun-2024,
HAL has broke out from its secondary down trend with higher than average volume.• Prices are trading above 21 DEMA and 50 DMA.
• RSI is trading at 53.63 and MACD is trading at 202.50.
• Looking good to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Note
18-Jun-2024---------------
LTP: Rs. 5,533.45
1st target of 5,444 reached. 19% up from suggested level.
Trade closed: target reached
09-Jul-2024---------------
Exit Price: Rs. 5,555
19% up from suggested level.
Broke the secondary uptrend line as well as previous high. CLOSING THE IDEA.
Disclaimer
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