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marketmoneymohmaya
Oct 3, 2023 6:26 PM

HMT - Weekly Chart Analysis Long

HMT LTD (INDIA)NSE

Description

Coming out of 30months base. A low cheat triggered last month (September2023) and there after cheat trigger was breached too. Volumes have started coming in since low cheat breakout.
It has moved more than 50% since the low cheat. and now it is heading for pivot.
Remember pivot is not yet formed. So do not hurry to enter and wait for proper entry setup. 43-51 is small resistance/supply zone.
Stock is trading above all its key moving averages. Trend based fib levels comes out as 54 - 63 - 74 in the future.

Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.

Comment

Target 1 & 2 done.
48.65 --> 69.70
~43% gains
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