[Premium] Trade Of The Week

JC Parets
August 2, 2022

Certain stocks that have displayed strength over the past few months are making new highs. Here we have a long idea from one such outperformer.

Hindustan Aeronautics Ltd. has performed extremely well over the past few months. Here we have the monthly chart, where the price has broken out above the resistance zone of 1,900. With this move, the stock is poised for another move higher towards the target of 2,660.

With the market participation increasing and sentiment improving, the stocks that have displayed strength during turbulent times may continue to shine through on account of relative strength.

We are bullish above the risk management level of 1,900 with a target close to 2,660.

It is important to keep in mind that the chart shared below is a monthly chart. The time frame therefore, is long term.

Click on the chart to zoom in.

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Allstarcharts Team

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