Trade Idea of The Day - Hindustan Aeronautics Limited Target Rs. 10 - Religare Broking Ltd
SELL 24 FEB 4500 CE BUY 24 FEB 4700 CE Titan PUT SPREAD Entry Range 55-60 Target Range 10 Stop Loss 84
Rationale
* On the daily chart HAL trading below the key moving averages of 20-DEMA and 50-DEMA, indicating a weak shortterm structure with the broader trend still tilted to the downside. Any pullback towards these averages may attract selling pressure.
* 14-Day RSI is hovering with the downward trend and failing near to the 40 mark, reflecting lack of bullish momentum and continued bearish bias.
* MACD histogram are traded in the negative trejectory, suggesting weak momentum with no clear bullish crossover, supporting a sell-on-rise strategy.
* Lower highs formation and muted volumes signal distribution. Sell on rise near 4450–4500 with downside risk towards 4200–4100, while keeping a strict stop-loss above 4600 mark.
