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.
NSE: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.
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DAC approves proposals worth Rs 45,000 crore, including procurement of 12 Su-30MKIs for IAF which will be manufactured in India by HAL.
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Updating target after stock split. <b>Target:</b> Rs. 2400
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HAL started flying again towards the target.
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Target of 2400 achieved.
Next Target: 2600.
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6-Dec-2023: 2nd target of Rs. 2600 reached. Momentum is still strong. Next Target: Rs. 2915
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36% up from suggested level.
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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
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Closing this idea. Refer to latest HAL idea published with updated chart and targets. Link given below.
Hindustan Aeronautics Limited, Bharat Dynamics LTd, Mishra Dhatu Nigam Limited (MIDHANI), Yantra India Limited, PTC Industries Limited and Uttar Pradesh Expressways Industrial Development Authority are going to create JV. The consortium will be lead by MIDHANI. The purpose of the Joint Venture is for Development, Operation and Management of Defence Testing Infrastructure (DTI) of Mechanical and Material Tests under Defence Testing Infrastructure Scheme (OTIS) promulgated by Ministry of Defence.
vineet2490
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or what do u expect price after split?
vicky252
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@vineet2490, Since split is 2/1, stock will open at half price on 29-Sep than previous day close. However this will be compensated with double stock qty in our Demat account. Once that is done, will have to re-visit the chart to define the new target.
vineet2490
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thank for ur Info.. I want your views on what target we can expect before split? Will it reach 4800 ?
vicky252
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@vineet2490, I was expecting a move post breakout and before split. But seems that new people are waiting to buy at half price after stock split. Having said that we can see that money flowing in is on higher side than money flowing out from this counter. Saying this as seeing higher low every time it corrects within this current sideways movement.
vicky252
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DAC approves proposals worth Rs 45,000 crore, including procurement of 12 Su-30MKIs for IAF which will be manufactured in India by HAL.