HAL trade ideas
Nifty outlook 10th Oct 2023Closing Range - 19395/19628
Extended range - 19311/19712
Nifty again closed with a low volume and an indecision candle just above the downward channel. There is some kind of support zone at 19460-19520. If this is broken on the down side, we can easily see 19400 or lower lower levels. Upside has resistane at 19655.
Possible trade can be a no trade! Compulsive traders can take trade in corresponding directin if Nifty crosses high/low of the day's candle of 9th Oct. Keep strict SL maintaint a risk reward ratio of 1:2.
P.S. - 0.5%-1% return on capital can be considered good in intraday.
Trendline Breakout
HAL
HAL has given a trendline breakout. The breakout is supported by a rise in volume. RSI is moving in sync with the price and has given a trendline breakout. MACD has formed a bullish crossover and is sustaining above its zero line. All these observations are seen in the daily time frame. Price can rise up to 4170 and above that, it can rally up to 4230 - 4300. It can be bought above 4050. The stop-loss will be below 3960 on a daily close basis. Holding duration 3 - 4 days. The trade should be ignored if prices open with a gap up or down before initiating the trade.
Swing Trade for HALTrend line Breakout in HAL
Book profits within the first 30 minutes of the market opening
- Try to exit by taking 9-10% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
Now, why do I prefer swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 3-4 days and the rest of the time they either consolidate or fall
CMP- 4031
Target Price 4300
Note:- I am not SEBI Registered This Trade is only educational Purpose
Ascending Triangle and it's meaning - understand using HALHow to identify an Ascending Triangle on chart and what does it mean?
Let’s understand this with current chart of NSE:HAL (dated 21-Aug-2023).
• Ascending Triangle is a bullish formation that generally gets formed during the uptrend and confirms the continuation of uptrend.
• Ascending Triangle pattern indicates the accumulation and gives bullish buy indication before breakout.
• NSE:HAL during its uptrend journey created break out from its uptrend channel on 7-Jun-2023.
• However, post that it has gone sideways and started forming an Ascending Triangle.
• Ascending triangle is created when price consolidates in the uptrend direction for some time by facing resistance at same level on the upper side of the triangle. Whereas the bottoms keep increasing.
• Volume starts getting decreasing from the starting point of the triangle.
• At one point, we will get Break Out from triangle with huge volume and uptrend will continue.
HAL - Flag Pattern!!!HAL, a defence sector company has seen a steady increase in P&L and top-line. EPS has increased from 97 in 2021 to 180 in 2023. With Govt. push on defence sector, HAL will play a major role.
From Technical side, HAL is showing a bullish flag patter, and is currently in consolidation phase. The next move is expected once the flag resistance i.e. ~4000 is broken. Currently it is respecting the 20 EMI as well showing bullish sign. The volumes have also been on a lower side showing consolidation. Once the flag resistance is broken, it is expected to show a price movement till ~5000 as next target.
PS: I am a budding learner so this is my own personal view. Happy to have comments from the learned folks to add value / correct any points to make me & everyone learn. Thanks
HAL India - Coming out of consolidation, good Flag formationThe picture is self explanatory - keep in mind results coming up. BEL results were good and the sector is doing well. It should have rallied yesterday but was kept down by call sellers (below 3900 strike). Market is kind of soft right now but long term bull market is still intact, so please be cautious.
Disclaimer - 95% of traders lose money to the top 5% of traders (SEBI stats). It is likely you could lose money if you follow tips blindly. Please DO NOT commit capital to my ideas without understanding the risks.