Good RR Trade Setup in Hikal (Risky) Good RR Trade Setup in Hikal (Risky) Good RR Trade Setup in Hikal (Risky)
Same as of aarti drugs As of now waiting for price to drop around 200 price range
hikal breakout from downward channel, bullish crossing above 150SMA for education purposes only
NSE:HIKAL - RS breakout from the previous consolidation. - High RS (1.22) - at fib 0.382 - Pharma Index getting strong - R/R = 6
#Hikal updated harmonic Target -547/627+ PRZ-476-465 SL-410 CMP:507@15 November 2021
Make strong bullish engulfing candle with heavy volume.
The momentum with which HIKAL is falling, suggests that the only support strong enough is available at 390-400 which is 1) Anchored VWAP from previous inflection point 2) Near 50 week EMA
It's in uptrend . It took the support at the trendline.now again its trading above counter trend line .
Buy with stop of 600 for a trg of 642-52, long trg 741
Daily candle analysis of Hikal ltd shows a flag pattern formation plus RSI may get support at 60 which shows bullish strength
4th wave trg of 35-342 .script in downward slopping channel sell on every rise till 442
though the stock is overbought but regression channel is showing a target of 412 and end of 3rd wave
as observed in 5 min chart volume profile showing distribution at 270-80 level .Sell and enjoy at higher level
support visible at 241, 230 as per fibo retracement sell near to 268-270 where in one min chart share has shown distribution
in one minute chart 170 volume profile shows profit taking as price decrease on volume