HBL Power broke out from a triangle/pennant consolidation in July 2024, at levels of around 530. Flag pole marked in solid blue line extends from 593 to 277, which is a distance of 316 rs. Adding that to breakout levels of 530 provides pattern target of 846, if pattern plays out.
The recent announcements of Kavach orders has increased visibility for HBL for next few quarters. Recent quarter results have been good inspite of there being not much contribution from Kavach. Battery segment continues to outperform.
disc: invested.
| Subscribe To Our Free Newsletter |
