HAL trade ideas
BUY HAL ABOVE 1340 TGT1560/1780/2150/2380 AVG@1240 SL 1040As per the current geopolitical situation, India is also at the point to upgrade its air-force fleet on the numbers as well as modern technologies which will be huge advantage on for this stock. On the charts we can see rounding bottom formation with a hammer in the last weekly candle One can take positions in the futures with a view of short term ranging from 3-9 months for the above mentioned targets with given stop-loss
#HAL#HAL
Hindustan aeronautics
Stock has nearly doubled in 8 months.
Took support at 50 day and is uptrend
Broke box.
False bar on top.
Elliot oscillator is positive
Pivot is 1972
Current price is 2024
Looks like a ideal buy point @2000
Target 100 to 125rs+
Reason
There are two bars inside the box (17 and 20th June)
Too long for my liking.
Hence i am happy with 5 %
SL 1940 CBS
HAL - bullish tradeStock gave a breakout and retested, looks good with a potential to touch 1560 levels, one can keep a sl below 1380 on closing basis. I think current geographical concerns, Russia Ukraine war, will increase Indian budget in defence space and this stock should do well. Happy trading.
Good luck.
HAL Looks good for positional trade.Aim for 5-8%. It can be easily achievable in 1-3 days.
My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2.
The reason for booking profit of only 5-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities.
Take trade if all conditions meet at the end of the day 3:15-3:30 PM.
If you have any questions or suggestions, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.