HAL trade ideas
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.
Trade idea on HAL with good R:RHindustan Aeronautics
Technical:
CMP: 1296
Buy after it crosses 1313 on the hourly chart and is confirmed
Targets: 1425, 1568
SL: 1230
Rational: Both wedge + FIB breakout, already seeing increase volumes
Fundamental Top 5 points:
⁃ Services entire army fleet and >70% IAF and Navy
⁃ Decreasing inventory days reducing working capital needs
⁃ Strong order book
⁃ Consistent ROE > 20%
⁃ Reducing debt and Kd at 5.32%
Quick Valuation:
⁃ Trading at a PE of 13.33x - closest peer: Bharat dynamics trades at 20+ and other New listed IPO companies: Paras defence and data patterns trade >60PE (they are however only into design)