HEG trade ideas
Fibonocci Retracement BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
HEG Ltd - Demand at 650 and Supply at 2500Context - Dropped 90% to 411 in 2020 after 40x Up to 4400 in 2018
High Vol up from Aug to May'21 met supply at 2500
Demand appeared at 1000 in Jun'22, holding there
Given above, could plan -
to Purchase Breakout above 1850
or, rejection indications near 650
PB 1x
PE 9x
ROCE 14%
Div 3%
HIG Ltd Investment IdeaHIG Ltd is a listed company, and the price has been in correction mode for the last two years. The share has shone the recovery from June 2022. The current price is 1285. Share can be purchased around 1260 to 1320 INR. With stop loss at 1200 INR, first target at 1383 INR, and the potential to cross 2,000 INR within one year.
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Wedge patternHEG is on the upper part of the wedge like pattern...keep a watch if it breaks out...only downside is that it has 3 resistance points, but only 2 support points in the wedge, so it may fall back into the wedge and slide down... not ideal right now for taking positions...let's keep our options open. Targets are marked nevertheless
SELL AROUND 2280 TGT 2070/1800 SL ABOVE 2450The stock had shown growth only on the basis of sectorial growth as it had been consistently posting loss which makes it weak fundamentally. Also on chart negative MACD crossover along with declining volumes indicates weakness in the stock if it posted bad results again in upcoming quarter.
