HAL has broken the technical indicators due to the sudden OFS introduced by the company & opened Gap-Down. Then the price also started falling down due to the traders who were booking their losses. Then came the quarterly results and made the price fall even more and that's why most of the retail investors got trapped.
So, this analysis may help them clear their mind about the stock price whether will it go up or not?
Now technically and psychologically the price is around the strongest support and I have managed to find good levels upside with the help of Fibonacci and buying may occur but we have to be careful.
1) If the price sustains the Orange zone with good buying volumes & if price takes out both Pink & Green trendlines in 4Hr & 1 Day time frame with much good buying volumes than previous ones then it may have the potency to achieve the given targets. If 906 level is also taken out in 4Hr & 1 Day time frame then price will move towards 1005 range.
2) On the contrary if the price is unable to take out the trendlines along with the Orange zone then this will act as resistance zone & will continue its downside to the 710 level.
3) If 710 level is not sustained then there may be more fall to the Green zone which will lead the price to go into consolidation for 1-2 weeks atleast. And from there, a big bounce upside may occur till the levels mentioned if sustained in the zone with good volumes and good RSI.
4) On the contrary, if the price couldn't be sustained in the Green zone & selling volumes are more than buying & negative divergence is created on RSI then price may fall further.
5) Right now RSI is in the totally oversold zone so buying may occur!!
6) Fundamentally the company is very good, under the influence of the government. The company deals with the production of Aircrafts, Helicopters, Rockets for ISRO, Jet engines, Power turbines, Avionics accessories, Cryogenic engines basically deals with Energy & Defense sector.
7) The point of all this is due to increasing tensions on the border between INDIA & CHINA, the Defense sector is in the news and in the coming future, we may see an increase in demand for this sector including stocks like BHARAT DYNAMICS, HAL, L&T, BEML, BHARAT FORGE, etc.
8) As an investor, buying this stock while it's falling will the best strategy for the long term gains.
Disclaimer: Don't just blindly Trade or Invest, learn and then trade. Manage your risks properly.
This analysis is purely for EDUCATIONAL purpose, just to give an idea on the price movements!!
DO NOT FORGET to put your own STOPLOSS!! KEEP STRICT STOPLOSS!
ThankYou!!
So, this analysis may help them clear their mind about the stock price whether will it go up or not?
Now technically and psychologically the price is around the strongest support and I have managed to find good levels upside with the help of Fibonacci and buying may occur but we have to be careful.
1) If the price sustains the Orange zone with good buying volumes & if price takes out both Pink & Green trendlines in 4Hr & 1 Day time frame with much good buying volumes than previous ones then it may have the potency to achieve the given targets. If 906 level is also taken out in 4Hr & 1 Day time frame then price will move towards 1005 range.
2) On the contrary if the price is unable to take out the trendlines along with the Orange zone then this will act as resistance zone & will continue its downside to the 710 level.
3) If 710 level is not sustained then there may be more fall to the Green zone which will lead the price to go into consolidation for 1-2 weeks atleast. And from there, a big bounce upside may occur till the levels mentioned if sustained in the zone with good volumes and good RSI.
4) On the contrary, if the price couldn't be sustained in the Green zone & selling volumes are more than buying & negative divergence is created on RSI then price may fall further.
5) Right now RSI is in the totally oversold zone so buying may occur!!
6) Fundamentally the company is very good, under the influence of the government. The company deals with the production of Aircrafts, Helicopters, Rockets for ISRO, Jet engines, Power turbines, Avionics accessories, Cryogenic engines basically deals with Energy & Defense sector.
7) The point of all this is due to increasing tensions on the border between INDIA & CHINA, the Defense sector is in the news and in the coming future, we may see an increase in demand for this sector including stocks like BHARAT DYNAMICS, HAL, L&T, BEML, BHARAT FORGE, etc.
8) As an investor, buying this stock while it's falling will the best strategy for the long term gains.
Disclaimer: Don't just blindly Trade or Invest, learn and then trade. Manage your risks properly.
This analysis is purely for EDUCATIONAL purpose, just to give an idea on the price movements!!
DO NOT FORGET to put your own STOPLOSS!! KEEP STRICT STOPLOSS!
ThankYou!!
Trade active:
Taken out the green trendline now I will definitely go for long.
