HEG trade ideas
HEG may consolidate for a couple of days in the worst case.There is a likelihood that it may see a low level of 3980-4000 and when the upmove takes place, we may see a level of 4975-above depending on its time of entry. But, lower channel having been touched on Friday, the counter may start to move up without any further consolidation also, which will be attributable to any fundamental bullishness emerged due to any new regulation/ news etc.
Consolidating in the lower side of the channelHEG channel is unbroken and the channel limit remains valid till the channel is broken. Presently moving near the bottom of the channel, 4172 being the low point of the channel and 4890 is the high end of the channel. The stock is expected to roam around this range, in absence of any bullish trigger. 1/1 angle support is at 3872, which is unlikely to be broken. If channel is broken out, the next broad target goes to 6168.
