Cmp - 4
Stop - Nil, Add more on relevant dips
T1 - 8
T2 - Open, Review at 8
Expected Holding Period - 3 months or earlier for T1
Technicals - ✅
Fundamentals - ✅
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
It has been observed that the price action firstly breaking above the downward channel and now initiating to form a higher high and higher low sequence indicating a reversal in the price action.
As per my analysis, price action shall further move up to the below targets.
HDIL (NSE) for some time is trending in a rectangle and currently at a very strong support zone. It seems to be bouncing off it. It a good opportunity to go long. I am waiting for 1 day candle to close above 52. RSI shows a reversal however MACD is yet to cross over.
Three things to keep a note of-
1 day candle closes above 52.
MACD crossing over
Double bottom formation done. Waiting for breakout at 66.10. MACD cut will happen on coming days. Stoch also moving from oversold region.
Target range :62,66.
After breakout the double bottom range on upside Target is 74-78
HDIL has closed above S/R zone, next green candle and you can buy with target for 90, 92.3 & 96. Trail with SL if it goes any further.
If goes below 85.8, short with targets of 82 & 80.
These are my personal views about this stock, do your own analysis and trade accordingly.
The stock has shown good strength with a steep rising angle.
Now it has come to the level where it will face 2nd resistance ( the 1st one it crossed by a gap up on the second attempt )
Here, again it will face pressure, look out whenever it breaks out convincingly and go long.
Go to lower timeframes if you're a short-term trader.
It is been observed on daily chart that the price action forms a Hammer candlestick at the support levels where price action was picked up from the day's low to end near the high or open of the day, indicating a bullish come back at crucial support levels. Now, it shall turn up to around 61 levels which is 23.6% Fibs retracement levels.
HDIL trading in bearish channel and it suddenly open gap down on 9th Nov due to bank note ban and touched its long term support and retested again the level 56.00 but has been unable to break which seems it is not willing to break support. we may see upside movement in the stock till bearish channel resistance 61.00.Traders may go long on HDIL with a target of...