Diwali Picks HBL Engineering Ltd Target Rs. 860 - 960 by Prabhudas Lilladher Ltd
HBL Engineering Ltd
Buy HBL Engineering Ltd CMP (Rs) 780 Target (Rs) 1000 - 1080 Stoploss (Rs) 670
The stock has witnessed a significant revival from the 650 zone and with a higher low formation on the daily chart has improved the bias sustaining above the confluence of 50EMA and 200-period MA at 750 zone and with bullish candle formation can anticipate for further upward move in the coming days. The RSI is well placed with upside potential visible and can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for the upside targets of 1000 and 1080 levels keeping the stop loss at the 670 level.
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