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* HFCL recovered strongly from March 2020 low to a new high at 101.15 levels, after surpassing the resistance
zone of 30 levels.

* It has been trading in a range for the last one and a half years while hovering within the 55-90 zone. And, it
has retested the lower band of the range of late and seeing a gradual recovery. Besides, it has witnessed a
breakout from a reversal pattern(H&S Pattern) also on the daily chart.

* The chart pattern combined with indications from the oscillators is pointing towards a steady upmove from
hereon. We thus recommend creating fresh longs in the mentioned range.

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