HBL Power System
HBL Power System has been under bear hammering from past 4 trading sessions and now it is trading around its lower trend line support at Rs 31 as seen from the daily chart stock has always bounced from its lower trend line and we can same to accept now.
RSI and MACD are bit oversold and we can except a decent bounce,But intresting observation will be come when the Stock cross and sustain above 32.2 which can be golden cross where we can see cross over of 5 EMA and 13 EMA.If that happens we can see a rally till 200 SMA.Volumes should be watched for the same to happen.ie. Rally till 200 SMA which is at 36 levels.
Long around 31 levels Tgt 31.6 32 33 and above that 35 and 36.10
Finolex cable is approaching the Laxman Rekha between Bulls and Bears,I am talking about 200 SMA.
Stock has from past 2 attempts was unable to cross the same and now it will attempt the 3 attempt and looking at the MACD indicator and volume action i think it should cross it and move away with a breakout
Buy above 52 Tgt 53.18 and 55 sl 50
Now looking at volume action on Friday and MACD and RSI Stock should move above the Range and can give at least 10% move from breaking the channel
Buy above 200 tgt 204 210 215 and 220 Sl 188
Tata Motors can be traded easily by seeing its 100 SMA,Trade is quiet profitable if you see just 100 SMA of the Stock
I have pointed on charts how 100 SMA acted as a support and make the stock rally from that to about 10-15% and if gets broken that TATA motors can give a correction of 10% on downside very easily.Both observation i have marked on charts
Now stock is again going to touch its 100 SMA and we need to see whether it takes support and give a rally or it breaks and give a correction
2 Trades are possible
Long above 784 tgt 789 797 806 sl 763
Short below 760 Tgt 751 and 736 sl 768
Keep Booking Profits