A small cap company HBL Power which is primarily engaged in Batteries is now diversifying to new business such as Industrial Electronics, Defense electronics and Railway Electronic signalling.
It has making some bullish patterns on charts.
On daily charts it is breaking out of big triangular pattern with big volumes. Targets of that comes around 56 which is 30% upside from cmp. The stock has also retraced more than 61.8% retracment of total fall from 47.85 to 32.75 so this adds another positive to the stock. The stock will face some resistance around upper trend line at 45 shown by yellow line.
Disclosure: I am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i do hold the stock in my portfolio, so i have a lot of interest in the stock's price movement.
It has making some bullish patterns on charts.
On daily charts it is breaking out of big triangular pattern with big volumes. Targets of that comes around 56 which is 30% upside from cmp. The stock has also retraced more than 61.8% retracment of total fall from 47.85 to 32.75 so this adds another positive to the stock. The stock will face some resistance around upper trend line at 45 shown by yellow line.
Disclosure: I am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i do hold the stock in my portfolio, so i have a lot of interest in the stock's price movement.
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