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Technical Positional Pick - Buy HEG Ltd For Target Rs. 2605 - HDFC Securities 

TECHNICAL OBSERVATIONS

* The attached weekly timeframe chart of HEG Ltd indicate a larger range bound action in the stock price over the last many months.

* The stock price is currently making an attempt to break above the intermediate resistance of down sloping trend line of larger range at Rs 2370-2380 levels.

* Hence, a sustainable move above this area could open a sharp upmove in the underlying for near term.

* Weekly 14 period RSI has turned up above 60 levels, which indicate a strengthening of upside momentum in the stock price.

* The overall chart pattern of HEG Ltd indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy HEG Ltd Up to 3 Months @ Add on dips 2205 CMP 2346.60 TGT 2605 SL 2145

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