varadtambolkar

HAL a different accumulated pattern

Long
NSE:HAL   HINDUSTAN AERONAUT
In Aug 2020 HAL started moving up with high volumes, within no time HAL Zoomed from 550 levels to 1300+ levels.
Within next 2 months stock halved to around 650 levels. Interesting is the volume after the down move, these are abnormally high volumes. This is clear sign of accumulation by Market makers/ Institutional investors. As now one would distribute stock at such high volume compared to volumes since 2018 till Aug 2020. Even for distribution stock has not given huge returns as given by stocks before a normal distribution phase. There is multi fold rise in volumes since Aug 2020. Even after low of 650 after stock reached 1100 levels slowly instead of quick move and consolidated for since Feb 2021. Listing day high was crossed with huge volumes at the end of Aug 20 this was the indication that accumulation was complete. Breaking of previous life high marked will be the trigger for the next bull run

All these observations conclude that stock has moved has moved in to strong hands & we can see a new bull run very soon.

This is not a accumulation phase as per Wycoff method. But a based on observations above its clearly accumulation phase after Aug 2020

Now currently HAL is trading near previous life high. moving in Narrow range. This narrow range is small stop before next life high.
This will be new higher high after breakout.