POSITIONAL TRADE!
Reasons to Trade:
1) TrendLine resistance
2) Good Volumes
3) Inverted Head & Shoulder Pattern
SCENARIO 1:
The stock might break the Long-term TrendLine as well as the Channel pattern with good volumes and fly.
SCENARIO 2:
The stock might come down and fill the gap, where the fib 61.8 matches, and then fly.
We will Check which scenario...
HAL CMP at 830 looks set to give us an upmove of 50-80/- in the next 2 weeks or so. Fast Stochastic just crossed over the slow line and the trendline also shows us that we are near a breakout.
Investment Pick: Looks good above 68 with confirmation on daily level closing for 80/90/100+ in 2-3 months. This is good script both technically as well as fundamentally. SL would be 60, keep trailing your SL every 5 points move.
Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor...
HDFC has bounced back from Monthly Support, Vixfix is trending down and OBV is increasing - clearly makes it a good set up to GO LONG - and Hold Positionally.
1st Target : 1780
2nd Target : 1850
