Hindustan Aeronautics Ltd. - Breakout Opportunity
Date: 8-Dec-2024
LTP: Rs. 4,559.65
Targets: (T1) Rs. 5,082 --> (T2) Rs. 5,674 --> (T3) Rs. 6,758
SL: Rs. 4,044
Technical View:
•
HAL is in primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 5,674.75 on 9-Jul-2024, it has retraced 31% to 3,920.35 level.
•HAL has recently breakout from it's secondary downtrend with higher than average volume.
•HAL is trading above 20 DEMA and 50 DEMA since last few sessions.
• RSI is in buy zone and trading at 62.64. MACD has crossed 0 line and trading at 63.50.
• Both RSI and MACD are showing positive divergence, indicating trend reversal.
• Looking strong to start a new swing from here.
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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. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
LTP: Rs. 4,559.65
Targets: (T1) Rs. 5,082 --> (T2) Rs. 5,674 --> (T3) Rs. 6,758
SL: Rs. 4,044
Technical View:
•
HAL is in primary uptrend and was recently going through it's secondary downtrend within primary uptrend.• After touching the high of 5,674.75 on 9-Jul-2024, it has retraced 31% to 3,920.35 level.
•
HAL has recently breakout from it's secondary downtrend with higher than average volume.•
HAL is trading above 20 DEMA and 50 DEMA since last few sessions.• RSI is in buy zone and trading at 62.64. MACD has crossed 0 line and trading at 63.50.
• Both RSI and MACD are showing positive divergence, indicating trend reversal.
• Looking strong to start a new swing from here.
Liked the analysis? Boost/Like this idea and follow my ID.
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. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
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