HBL Power 6mth Breakout Retest

The stock has been trading in a channel for 6 months. Big accumulation volume bars could be seen throughout the channel. Finally gave a breakout on huge volume . The price has now come back to retest the breakout area. It may take support at the 20VWMA (Green line) and bounce back once the earnings are announced in a couple of days. RSI is above 50, Relative strength line is above NIFTY .

Moving along with sector.

SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20MA on Hourly chart (on a daily close basis)

Never ever buy before 3PM . I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better.

Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.

Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.

Note: I reserve the right to be wrong.

I am not a SEBI registered analyst. Please consult your financial advisor before investing.


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