BullishLine

Great Swing Opportunity in HFCL!

Long
BullishLine Updated   
NSE:HFCL   HFCL LTD
Good evening All!
So, HFCL Ltd has been stuck in a beautiful symmetrical tringle pattern for about 2 years now.

As we can see from chart it moves up retest it resistance, gets rejection from the trend line and retrace back to support. It's like a cycle that keeps repeating.

Right now, it's again retraced back to the support level and is trading above it. Don't you think this could be a great opportunity to buy and then sell when it tests the resistance again? It seems like we could take advantage of this special pattern! And that makes our trade little easier and less riskier.

Today, HFCL Ltd touched its support and showed a powerful upward move. I suggest we consider buying at this level and aim to sell at 82 with a stop loss at 59. Our target should be at least 82. Let's keep an eye on the stock and make the most of this opportunity.

What do you think guys, do let me know.

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Trade active:
Look at this beauty, going beautifully well. Currently, HFCL is up 6% from our analysis point.

Identifying a robust support and making some position strategically until its resistance level is achieved, is always a comparatively safer option.

It's not that it can fall further, it is very likely to do that but think logically how much even it can fall when it is already backed by a strong support.

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