hal trade setuppossible trend reversal is noticed in the stock, overbought rsi in weekly chart onfirming a bearish candle in weekly chart followed by a short doji with long upside wick indicating a price decline can happen , setting a stoploss at 1400 on daily close it can be short for target 1315, last intrady low, breaking it it can go further low else a double bottom can be seen to resume its uptrend.
HAL trade ideas
HAL Bearish Gartley and Bearish Deep Crab pattern Terminal BARHAL is on Harmonic Resistance and a Reaction is possible.
Two Patterns are in progress.
(1) Larger scale Gartley Pattern with Level Hit and terminal Bar in progress today. SL for Gartley is FIB Level 1 of XA Leg. (This pattern is more visible on Weekly and Two Day Chart)
(2) Smaller Scale Crab Pattern with Fib Level Hit and Terminal BAR Completed today (This pattern is more visible on 4 Hr 6Hr and Daily)
We always play for Type-1 Reaction and we still wanna wait for Some sort of consolidation breaking down, Bearish DIV in RSI or W pattern in RSI or Reversal Candle with Volume Supported Move.
Again- Harmonics are just a way to find where Reversal comes but trend is always super and we can clearly see that trend is up and bullish.
harmonictrader.com
harmonictrader.com
HAL ::: BULLISHL O N G T E R M T R A D E
SIP TRADE
DATE: 20 MAY 2021
INSTRUMENT: HAL
TREND: BUY
TIME FRAME: DAY
CMP: 1014.75
BUY ABOVE: 1022
STOP LOSS: 980
TGT 01: 1080
TGT 02: 1090
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
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A long term goal oriented wealth creatorHAL (HINDUSTAN AERONAUTICS LIMITED) IS JUST BEGINING ITS JOURNEY IN MARKET, IT HAS A LONG WAY TO GO. AS INDIA IS SPENDING ON DEFENCE THAN EVER BEFORE AND ALSO INVESTING AND EXPANDING ITS PORTFOLIO , AND STARTED SELLING TO OTHER COUNTRIES, ITS JUS BUDDING SECTOR IN OUR COUNTRY AND CAN UNLEASH THE POTENTIAL IN COMING YEARS... START ADDING FOR LIFE TIME GOALS...
#HINDUSTAN AERONAUTICS LIMITEDSTOCK-HAL touched low of 470 in March-2020 and then recovered and made a high of 1423 on 14th August, but after that there is a profit booking in the stock, now the stock is near its support level of 980, Stock is near to its 38.2% fibonacci retracement level. So as per my analysis buy in the range of 975-980 for the target of 1200 in next 1 Month keep a stop loss of 859 on closing basis.