HFCL WEEKLY CHART BREAKOUT
:: Data Point ::
Breakout Level: @79.00
1st Target: @86.50
2nd Target: @93.50
HFCL creating Triangle Pattern and about to breakout @79.00
If it's breaks @79.00 and sustain above the price then go for LONG Position.
Note: Price already trade above 100 and 200 EMA with Good Volume.
The stock of HFCL is going to be ready for the BO. Entry would be taken after the BO of the candle between 82 and 85 with sl of 70. once stock is successfully BO keeps trailing the SL. This time stock is ready to create new highs. Stock is clearly forming higher highs & lower lows. Hence, Very high probability of trade setup. This is for your educational purpose only.
HFCL is one of the leading companies in optics fiber manufacturing for 5g sector in India.
The company recently got approval for PLI schemes worth 652 crore as well.
Once price breaks above the neckline, we can expect fresh rally.
There is good volume spike as well on closing day, and it will be interesting to see if smart money inflow continues.
HFCL Ltd (HFCL)@breakout
HFCL to raise up to Rs760 cr to spend on expansion, R&D
HFCL Ltd (HFCL) strong breakout with volume break out and momentum created in day chart.
HFCL Ltd (HFCL) breakout for long. so strong upside are coming. BUY above 76.50
NEXT TARGET 79.90,85.45,87.2, 92. Time to go for long, get ready to catch the profit. Thank you.
Ideal VCP observed in HFCL
Buy at CMP
SL below 68
R:R -- 1:2 and more
volume drying up during consolidation and expanding in up move
95 is crucial resistance if break with volume then we may see good up move
Market Cap-- ₹ 11,322 Cr.
ROCE-- 19.7 %
ROE-- 13.5 %
Promoter holding-- 39.2 %
FII holding-- 7.19 %
DII holding-- 1.44 %
Debt-- ₹ 710 Cr.
HFCL is near to its ATH resistance levels, on daily it has started making higher lows, on weekly it is taking support at 20EMA by controlling uptrend on Higher Time Frame, Monthly the upper bollinger band is open and have some more room on upside to achieve.
Resistance at 89. Will see strong upside once this level is crossed.
The price can retrace back to 79, 76 levels and 71 if it fails to sustain momentum.
View: Bullish in the long term. However, always keep a stop loss of 5-8 percent if your position fails.