HDIL Technical analysis

DAILY CHART

DAILY CHART

WEEKLY CHART

• Daily line chart is showing a triangle pattern. One should look for a close outside the triangle pattern for getting in.
• Along with the triangle pattern one should also keep in mind the position of the 200 DMA . Since the stock is trading close to its 200 DMA. The breakout or breakdown that moves the stock away from 200 DMA will give large moves. But one should make sure that the breakout is sustainable to make such a move.
• Weekly chart is also close to a make or break area. So for the breakout to enter the stock.