HBL Engineering Ready for Next Leg of RallyPullback Retest Completed – Ready for Next Leg in NSE:HBLENGINE
Pattern & Setup:
After a powerful 50% rally backed by strong volumes, the stock went into a controlled pullback.
That pullback perfectly retested the previous breakout zone, forming a mini falling channel.
Now, the price has started curling up again, indicating the end of correction and start of a fresh move.
Trade Plan:
✍ Entry: Current levels around 845–850 look attractive for early positioning.
🚩 Stop-Loss: 800 (below breakout retest zone).
🎯 Targets:
Target 1 → 950
Target 2 → 1,050
Target 3 → 1,100+ (major swing projection, ~30% potential).
💡 Pyramiding Strategy:
1. Enter first lot near 845–850.
2. Add more above 880 on breakout confirmation, trail SL to 825.
3. Add final lot above 950, trail SL to 880.
Ride toward 1,050–1,100 for full move.
This is a textbook breakout–retest–continuation setup. A sharp rally with strong volume followed by a mild pullback is a sign of healthy consolidation, not weakness. Once 880+ breaks, momentum can return quickly toward 1,100 levels.
