HAL Hindustan AeronautThis stock has given good breakout on daily time frame as well as on weekly time frame, along with a good intensity of volume,
this is a newly listed stock and it is moving up impulsively, RK's Magic indicator is also suggesting to go long for forthcoming weeks,
Overall Wave Structure is also suggesting same on weekly Charts, all trend indicators are also aligned with same bias.
One can go long at current levels or in dips ( if any ) with immediate support of 1350 and major support of 1239.
All the key levels are mentioned on chart.
Overall Wave Structure could be like this on Weekly Chart.
Breakout in Daily with very good intensity of Volume
RK's Magic indicator is also suggesting to go long for forthcoming weeks
This RED curve line is nothing but support-line / stopline and it also play role of TIME-LINE
weekly macd positive crossover done
Daily macd positive crossover, uptick & now above zero line too.
Stochastic is already running positive,
but now there is very little space
pending upside in daily stochastic,
so we can assume it should retrace some amount,
before to go further up move. buy on dips is suggested.
Overall, in weekly stochastic it has pending good intensity of space upside.
Weekly RSi is uptick and also above 60
thats actually a good sign for bulls
once it crosses above 62.10 on closing basis
it would be definitely a trigger point for up move.
if RSI in Daily retests nearby 55 numbers or upto 50 too.
it can be a good buying opportunity. (may be or may be not retest)
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
