"HDIL, on the daily chart, the stock has broken out from a symmetrical triangle pattern is likely to take support above the falling trend line of triangle. Support for the stock is placed at Rs 55 i.e. the point of convergence of above mentioned Symmetrical Triangle and 50‐DMA. As ‘triangles’ are considered to be continuation pattern, existing uptrend in the medium term chart is likely to continue from the current levels. Adding to it, RSI has been holding positive crossover. (Duration 5 days). Buy HDIL for a target of Rs 64,” says IIFL research report.
Also Read: Sell HDIL on rallies, says Sudarshan Sukhani Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
