Unlocking the Potential: A Technical Analysis of HBL Power

Apr 29

Hello, community! Today, we're going to take a closer look at HBL Power, which has recently shown some interesting activity.

📈 The Breakout

• On Friday, HBL Power experienced a significant breakout. This wasn't just any breakout, but one that occurred with substantial volumes, indicating strong market interest.
  
• The zone where the breakout occurred has previously acted as both support and resistance multiple times, further emphasizing its significance.
  

📉 The Retest

• Today, the stock has come down to retest the breakout zone. Interestingly, this retest is happening with very low volumes, which is a positive sign. It suggests that the selling pressure is weak, and the breakout could be valid.
  

🎯 The Plan

• We can plan our entry at the 15-minute demand zone. This is where the price is likely to find support and bounce back up.
  
• The first target should be at least 1:3, meaning for every unit of risk we're taking, we're aiming to gain three times of reward.
  
• The stop loss (SL) should be placed below the demand zone to limit our risk if the trade doesn't go as planned.
  
• To ride the rally, you can trail your stop loss. This means moving the stop loss up as the price moves in our favour, locking in profits along the way.
  

Remember, the stock market is a place of endless possibilities. Keep trading, keep growing, and most importantly, keep learning! 🚀 "The stock market is filled with individuals who know the price of everything, but the value of nothing."

Lastly, thank you for your support, your likes & comments. Feel free to ask if you have any questions.

Please note that this analysis is for educational purposes only. I am not a SEBI registered analyst. Always do your own research before making any trading or investment decisions.

Apr 30

Trade active

1st Target completed