Price bounced back from Strong Support and made a bullish candle showing a trend reversal. Target 33.50
NEED TO BREAK OUT OF THE TRIANGLE FOR FURTHER UPMOVE. RESPECTED SUPPORT LEVEL 24.55. CLOSING ABOVE 29 WILL ENSURE STRENGTH.
it shall not break 24.5 on monthly closing basis
close above 30.8 can lead to 45-63. support at 27.85-25.75-23.65.
inverted head & shoulder formation which might take it to 60. need to close above 35. invalid below 28.7.
HFCL after its Q3 results is returning to its support level, there is high probability of the price to bounce back from its support level.
Don't Just buy on behalf of my analysis. Go analyse the stock fundamentally on your own. A fundamentally Strong Stock is giving Breakouts everytime after little consolidation.
Note: This is for educational purpose only. There seems to be a channel bullish breakout with high volume. There seems to be a breakout in RSI as well. Moreover, RSI above 60 indicates bullish momentum.
Hi Guys, You can occasionally get these kinds of scenario in the market, HFCL is now sitting on the perfect support level and on the bull flag. Breakout may occur soon which can lead it to around 40, stop below 22.5. Fundamentally also it is a good stock, you can hold it for long-term also.