HINDUSTAN AERONAUTICS LTD
CMP---- 4077.85 ON 18.11.2024.
ATH—5674.75 made on 9.7.2024.
ATL----235 made on 25.3.2020
RECENT LOW----- 1767 MADE ON 26.10.2023.
Support:3920/3762.60/3671/3428/3132/2913/2820/2728.45/2585/2088.
Resistance:4120.35/4172/4490/4540/4676.60/4690/4864/4950/5082/5114/5319/5378/5444/5582.80/5674.75.
TECHNICAL VIEW:--
After hitting an all-time high of 5674.75 on 9.7.2024.it corrected and
still into deep correction mode. The technical setup and the indicators are
weak and indicates that it is likely to go down further from here but moving
down it has a very strong support point at 3920(it
tested this point of 14.11.2024 & bounced back) & 3671 so it may
bounce back from here and may resume the up-move again but break &
sustained close below 3671 will make
the correction much deeper. In this regard please note that as of now the technical
indicators negative divergence indicates that it could come down to 3000—2800 range or lower, provided it
breaks and sustain below 3671 on the
closing basis. The good range to buy the stock in a staggered manner would be
between 2900---2600 and the worst
price for the stock as of now seems to be in the range of 2650--2549, break & sustained close below 2549 can drag it down to much lower levels. Similarly moving down if
it holds the level of 3671 on the closing basis, then one can
try buying it near 3671 with a with a stop loss of 3580.
IMPORTANT: DO NOT TRADE OR INVEST WITHOUT STOP LOSS.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the
author and he is not at all responsible in any way for the outcome of the trade
you enter based on the above view.
Kindly note that make your cost your stop loss
in favorable trade and then trail it as the price move up/down
to gain maximum profit and avoid losses. Use support and resistance levels as
entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT
STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.