Hindustan Aeronautics Ltd - Breakout OpportunityDate : 6-Jun-2024
Rating : Buy - Positional Trade
LTP : Rs. 4,666.60
Targets: (1) Rs. 5,444 --> (2) Rs. 6,385
SL : Rs. 4,044 on daily close basis
Technical View:
• NSE:HAL is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 5,444 on 3-Jun-2024, it has retraced 28% to 3,920 level.
• On 6-Jun-2024, NSE:HAL has broke out from its secondary down trend with higher than average volume.
• Prices are trading above 21 DEMA and 50 DMA.
• RSI is trading at 53.63 and MACD is trading at 202.50.
• Looking good to start a new swing from here.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.