Date: 14-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 4,074.70
Targets: (1) Rs. 4,275 --> (2) Rs. 4,650 ++
SL: Rs. 3,670 on daily close basis
Technical View:
•
HAL
is in its primary uptrend and also going through it's secondary uptrend.
• Within the current secondary uptrend,
HAL
has retraced 5% from top and again started the upward journey from 8-May onwards.
• On 14-May-2024,
HAL
has broke out from minor down trend line as well as it broke the previous 52 week high with higher than average volume.
• On 8-May-2024,
HAL
has closed above 20 DMA and 21 DEMA. Since then it is trading above 20 DMA and 21 DEMA.
• RSI is trading at 68.74 and MACD is trading at 118.49.
• Looking strong to continue the current uptrend.
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. 4,074.70
Targets: (1) Rs. 4,275 --> (2) Rs. 4,650 ++
SL: Rs. 3,670 on daily close basis
Technical View:
•
HAL
is in its primary uptrend and also going through it's secondary uptrend. • Within the current secondary uptrend,
HAL
has retraced 5% from top and again started the upward journey from 8-May onwards. • On 14-May-2024,
HAL
has broke out from minor down trend line as well as it broke the previous 52 week high with higher than average volume. • On 8-May-2024,
HAL
has closed above 20 DMA and 21 DEMA. Since then it is trading above 20 DMA and 21 DEMA. • RSI is trading at 68.74 and MACD is trading at 118.49.
• Looking strong to continue the current uptrend.
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.
Comment:
24-May-2024
----------------
LTP: Rs. 5,166.65
3rd target of 5,023 reached. 27% up from suggested level.
MACD, RSI and Moving averages are still suggesting bullish momentum. HOLD till the momentum is strong with open target.
----------------
LTP: Rs. 5,166.65
3rd target of 5,023 reached. 27% up from suggested level.
MACD, RSI and Moving averages are still suggesting bullish momentum. HOLD till the momentum is strong with open target.
-----------------
LTP: Rs. 4603.70
Both targets (4,275 and 4,650) reached. 13% up from suggested level.
With bullish crossover seen in both RSI and MACD, momentum looks strong. 5,023 can be seen as a next possible target.
NEXT TARGET: Rs. 5,023.