Hindustan Aeronautics Limited (HAL) - Break Out Opportunity

Date: 23-Aug-2023
Rating: Buy
LTP: Rs. 4031.10
Target: Rs. 4800
Exit Plan: Follow the 7/13/26 DEMA cross down on closing basis.

HAL has given a break out from an Ascending Triangle that has been created since last few sessions. With this it has also break out from it's last known resistance. 7/13/26 DEMA crossover, MACD crossover and RSI above 0 supporting further upward journey and possibility of achieving new highs.

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.

Comment:

DAC approves proposals worth Rs 45,000 crore, including procurement of 12 Su-30MKIs for IAF which will be manufactured in India by HAL.

Comment:

Updating target after stock split.
Target: Rs. 2400

Comment:

HAL started flying again towards the target.

Comment:

Target of 2400 achieved.

Next Target: 2600.

Comment:

6-Dec-2023:
2nd target of Rs. 2600 reached.
Momentum is still strong. Next Target: Rs. 2915

Comment:

36% up from suggested level.

Comment:

4-Jan-2024:
3rd target of Rs. 2915 reached.
LTP Rs. 2904.25. Up by 44% from suggested level.

Momentum is still strong.
NEXT TARGET: Rs. 3111

Trade closed: target reached:

Closing this idea.
Refer to latest HAL idea published with updated chart and targets. Link given below.