Multi month Breakout in HBL Power Systems

HBL Power made a post crash monthly closing high of 41.10 in December 2020. Since then the stock has been range bound for almost 5 months and has moved in a 10 Rs range between 33-43.

Not only did the stock close at a fresh post crash monthly high of 46+ today but it also gave the highest monthly closing since April 2018 with very good volumes.
One can go long here and add to their longs if/when the stock closes above 48 (last week's high).

Targets : 2015 price cluster around 55-56 and the 2018 monthly closing high of 68-69 are the short and medium term targets for HBL Power respectively. A close above the 2018 highs can take this stock to 100 and beyond.

Stop Loss: Longs can be held with a WCB stop loss of 42 to 38 depending on one's risk appetite.


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