HBL Power has given a Cup and Handle breakout on its weekly charts. Since Dec 17, the stock was consolidating below 74, which is also its ALL TIME HIGH. Last week the stock has given a breakout with high volumes. Power sector is seeing a major rerating which is also evident from CNX Energy index chart. Therefore, this is a buy. As it is trading in blue sky territory, the targets are calculated as per Fibonacci.
CMP - 82.5
TARGETS - 112, 175
SL - 70 Weekly closing basis.
CMP - 82.5
TARGETS - 112, 175
SL - 70 Weekly closing basis.
Comment:
Stop loss still intact. Keep holding.