forming a rising wedge, if breakdown its level likely to come post Covid recovery level, there is a huge divergence as well , which will resolve if it comes back to 1300 level , which is approx. 50% of wedge's breakdown target. Also seems 5th of 5th Elliot wave pattern.
Stock after giving good breakout, retraced to its breakout levels and then again started Upside movement.
Showing good example of breakout, pullback, retest and continuation.
Buy at CMP also with positional view for minimum 3-5% targets.
Above levels are for education purposes only
Do your own analysis before taking any trade
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Whenever this scrip has taken a support and bounced from 5o DMA with good volumes it has taken swing of average 25%-30%.
50 DMA is acting has a good support for the srip.
Buy on Dips
SL: 50 DMA.
HAL had given a breakout from a inverted head and shoulder pattern which
is extremely bullish pattern.
Also, positive MACD crossover is visible and RSI breaching above 60 again a
Volume is also supporting the up move.
Pattern target of 1650 could be seen.
📈 Hindustan Aeronautics Ltd. (HAL) 📉
This Stock Broke out from a Resistance zone of 1460-1480 after testing five times this range on upside with a strong green candle. If you look closely it has spend around seven months below this level. So It makes this Strong breakout.
Bias - Long
Target - 1600, 1700, 1800
SL - 1394
RR- 1 : 2.5
All Important Supports and...
This 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...
Hindustan Aeronautics is an Indian state-owned aerospace and defence company
Current price is less than the intrinsic value
Stock offers good dividend returns
Low probability of default in next 12 months
In last 3 months, mutual fund holding of the company has increased by 1.10%
PE Ratio 15.09
With a market cap of ₹48,892 cr,
Stock is 1.89x as volatile as...
Hindustan Aeronautics Ltd - 04.03.2022
The stock is trading @ 1372 levels
There is a SUPPORT @ 1320 levels
There is a RESISTANCE @ 1430 levels
The prices are above EMA
RSI is 56 in Weekly Chart
Watch out for the price actions
The price projection for HAL is a 45 day period view, at the time of the analysis we are the 27th Day of the analysis.
Phase 1: HAL made consecutive lower highs for more than 20 days before the trend was finally broken.
Phase 2: The new downward trend was not sustained as the new low after the marker low (The low that broke the previous trend) was a higher...
With rising disagreements between India and China, HAL definitely gain furthermore momentum.
I will advise to trade in cash as this is extremely volatile stock.
1800 will come quite quickly. One of the best flag patterns I have seen. Also, RSI has been declining and stock has required acceleration space.
This is just a chart pattern discussion. Please trade...