HPL : cmp : 74.2
A big bullish candle has been formed in D & W chart.
Making higher highs for 3 days.
Closing above previous high.
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
HPL electric and power limited has shown an inverse head and shoulders pattern in weekly chart.
The weekly ichimoku setup is also very bullish.
Being small cap, we will enter a very small position (<3% of portfolio size).
Targets - minimum 20%, then trail for every 10%.
Stop Loss - 43 or 35 (if you are very aggressive).
Disclaimer: All investments and trading...
BO with recorded high volumes now at retest
Buy at CMP (good buy zone is 50-45)
weak below 38(Small cap so please maintain SL below 38 on closing basis)
target of 64-74-90
Resistance acts as Support near 49-47 Also Fibonacci retracement zone (61.8%) near 48
Increasing volumes during uptrend
volume dry up during consolidation
Bullish flag formation
A bullish flag is essentially made to shake out weak players in a stock.
This could be the scenario in HPL Electric and Power.
Rest Market will tell.
Note: Post only for education purposes.