Technical Pick : Hindustan Aeronautics Ltd for Target Rs.5358 by Motilal Oswal Wealth Management
Hindustan Aeronautics Ltd
Hindustan Aeronautics Ltd RECO: Buy CMP: 4920 SL: 4700 TGT: 5358 Risk: 5% Reward: 10%
Technical View
* The stock has consolidated in a range in last one month which has led to formation of a 'Bullish Flag' pattern on the daily chart.
* Prices have given a breakout from this pattern, which is hinting at a continuation of the uptrend.
* The 50 DEMA is acting as a support base and the RSI oscillator too is hinting at a positive momentum.
* We advise traders to buy the stock at CMP Rs. 4920 with stop loss below Rs. 4700 for potential target around Rs. 5358 in 4 weeks.
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Buy Hindustan Aeronautics Ltd for the Target Rs. 4,500 by Motilal Oswal Financial Services Ltd
