HAL

HAL – Weekly Technical Outlook trend: The stock has been in a corrective phase after a strong uptrend earlier this year. Recent candles show selling pressure, but price action is now hovering near key support zones. Support Levels: Around ₹4,450–4,420, which coincides with the 50-week EMA (blue line) and is close to a confluence of moving averages. Below this, ₹4,120 (200-week EMA) will be a strong long-term support. Resistance Levels: Immediate resistance is at ₹4,700–4,750, followed by ₹5,100 from the previous swing high. Indicators: • Parabolic SAR: Dots are above the candles, indicating a short-term bearish bias. • MACD: Bearish crossover, showing loss of momentum, but histogram is flattening – possible slowdown in selling pressure. • RSI (14): Around 47.7, neutral but tilting bearish; not yet in oversold territory. • Moving Averages: Price is testing the 50 EMA and is just above the 100 EMA; 200 EMA remains intact, signaling that the long-term uptrend is still alive. Chart Structure: The price is in a pullback within a larger bullish structure. Sustaining above the ₹4,420 zone could trigger a rebound, while a breakdown below ₹4,120 may extend weakness. Upcoming Event: Q1 FY26 results scheduled on 12 August 2025 – could act as a key trigger for price movement. Stock View: • Short-Term: Cautious to mildly bearish; may see consolidation or further dip toward ₹4,120 if support fails. • Medium-to-Long Term: Positive bias intact; any dip toward ₹4,100–4,200 could be an accumulation opportunity if broader market sentiment supports. Trading Strategy: In my view, any result-triggered dip can be considered a good buying opportunity for the medium term. On the weekly chart, the stock is taking strong support near the 50 EMA and ₹4,340. If this level holds, positions can be taken with a stop-loss at ₹4,300. Target: On breaking this week’s weekly high, the stock may move towards ₹4,650–₹4,700, and further towards ₹4,850–₹5,100.