HBL POWER SYSTEM
Breakout alert ahead.
Self explanatory chart.
For educational purpose only. I am not a sebi registered expert. Trade at your own risk. Feel free to text & Share your views.
#banknifty #hbl #nifty
HBL Power made a post crash monthly closing high of 41.10 in December 2020. Since then the stock has been range bound for almost 5 months and has moved in a 10 Rs range between 33-43.
Not only did the stock close at a fresh post crash monthly high of 46+ today but it also gave the highest monthly closing since April 2018 with very good volumes.
One can go long...
Cup and Handle formation breakout on weekly charts. Volumes not high, neither low, hence low chances of prices falling. I would suggest going long on CMP as a swing trade. (OPEN THE CHART FOR DETAILED VIEW OF THE ANALYSIS)
Target 1 : 50
Target 2 : 60
Target 3 : 70
Target 4 : 76
Stop Loss : 36.5 (TRAIL STOP LOSS)
Risk-Reward Ratio favorable
MACD bullish
RSI...
The stock has been trading in a channel for 6 months. Big accumulation volume bars could be seen throughout the channel. Finally gave a breakout on huge volume. The price has now come back to retest the breakout area. It may take support at the 20VWMA (Green line) and bounce back once the earnings are announced in a couple of days. RSI is above 50, Relative...
I am tracking this stocks and will monitor how the price action is shaping up.
Till now it seems accumulation on going.
Should wait for decisive Breakout in this counter in few weeks time.
HBL makes Batteries and is a premium candidate for EV, they have tie up with Italian Major BORI. This will surely going to double in 1-2 years. GO FOR IT. It is placed suitable, retested the breakout and now started to move up for a target for 44 by this month end.
