Today we have another trade setup for a stock that was in downtrend, its HDIL. We have seen this stock making the series of lower tops and lower bottom, Today what we have seen is it was trading at 62.65 level which is very strong support for this stock (Low that was made on 3 March 2009). So we expect this stock to bounce from that support level towards 71 zone. Our advice is to accumulate HDIL December future contract near 63.2 level for upside targets as 68 and then 71 level. Also stop loss for this trade must be placed at 61.2, Risk reward ratio is quite attractive here. Thing to note is we are taking position against the trend as well as fundamentals, hence tight stop loss is necessary. Taking a look at F&O open interest data we have seen high rollover in this stock also HDIL December futures were trading at premium to spot price. Technical indicators are showing the stock is highly oversold and some bounce is expected in near term. Any recovery in Nifty futures will trigger bounce in HDIL stock also.
HDIL futures December Series: Buy HDIL Dec Future contract near 63.2 level for positional targets as 68 and then 71 levels. Stop loss orders must be placed just near 61.2 zone. Large buy orders must be sitting at 62.65 level in HDIL stock.
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this was great analysis hdil bounced from your level amazing to watch your daily advices.
Thanks Jayprakash, To get more accurate tips you can join our paid service. Or if you want to learn this type of analysis then join our technical analysis course. call for more info +91-9970777789.
sir i want to subscribe to your stock futures tips please provide details. can i buy hdil futures now ie at 65. also i am interested in technical analysis course.
sir HDIL still lacks upward momentum, if you are willing to invest then don’t invest now as this stock has not seen consolidation which we often see before change in the initial trend. I our view you must stay away from hdil stock for now. For more info on technical analysis course you can call us on +91-9970777789. We will arrange DEMO session for you so you can see how this course can be done online.
Regards,
OurNifty.com Support Team.
Now am holding hdil shares ,i want to know about the bottom value.ie approximately its lower value in the near future.
Sir HDIL has already formed its near term bottom at 59. Since the stock is in down trend we cannot say it has bottomed out. If you are holding this stock from higher level then this can be very good opportunity for averaging near 65 levels. Believe me there is so much time (may be 2 or 3 years) before we really see change in the trend (down trend). If you need more info do speak to us @ +91-9970777789
hello bhaveek sir,thinking of buying hdil at cmp,can get your opinion whether it is in long or short range,thanks
After breaking 62.65 level HDIL has turned extremely bearish, so any pull back should be taken as selling opportunity. Downside is still possible.
dear hdil share good investment for future or not