Hindustan Aeronautics Ltd. - Breakout Opportunity

4天前

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.

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.