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
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.