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DLF, Hindustan Aeronautics can bounce back, says Mehul Kothari; check why

According to the technical analyst from Anand Rathi, shares of Hindustan Aeronautics can bounce back to Rs 2,700, while DLF can jump to Rs 370.

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technicals

Mehul Kothari Mumbai
BUY
Hindustan Aeronautics (HAL)
Buy Near: Rs 2,570
Target: Rs 2,700
Stop Loss: Rs 2,510 

Few sessions back; we witnessed a trend line breakout in Hindustan Aeronautics near Rs 2,520 mark. Then after the stock underwent a rally towards Rs 2,750 and post that it retraced back to the extension of that same trend line.

Now we are witnessing a bullish candlestick pattern on the daily scale which indicates resumption of the rally. Thus, we advise traders to go long in the stock near Rs 2,570 with a stop loss of Rs 2,510. 

BUY
DLF
Buy Near: Rs 350
Target: Rs 370
Stop Loss: Rs 340 

Since July 2022; DLF witnessed buying

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First Published: Feb 28 2023 | 8:15 AM IST

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