Is Hindustan Motors Reversing ?

This penny stock whose car brand 'Ambassador' was a household name and went all most to the ashes. There is no revenue but on long term basis the charts are showing strong positive momentum. Mind you there is no fundamental reason for this stock to be moving up but it is. No sane investor will touch it just based on some rumors that they are getting into EV business. But as they say Price knows everything which no one does.

The volumes are really high.
It broke its life time high and is consolidating.
It may take some time before it makes its new push.


If any brave heart wants to take a bet they can. Levels are given below.
CMP - 17.20

Stop loss- 15.05

Ist Target - 19

2nd Target - 23

3rd Target - 27

Disclaimer - This is not a buy or sell recommendation. Idea is shared for purely educational purposes.

DO GIVE A Thumbs up.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.