Comments
The stock of HBL Engineering has been in a downtrend since mid-December after facing resistance at ₹700. But last week, the stock found support at ₹500 and rebounded.
It rallied in the past few sessions and the price is now above 20- and 100-day moving averages, a positive sign. Although the price declined in the last session, the uptrend has not been invalidated.
We expect the stock to resume the rally and appreciate to ₹700 again in the short-term. So, one can buy at ₹570 and accumulate if the price dips to ₹550. Place stop-loss at ₹520. Raise the stop-loss to ₹600 when the stock hits ₹640. Tighten the stop-loss further to ₹640 when the price touches ₹680. Book profits at ₹700.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.