HUDCO

Technical View- CMP: ₹229.80 | Recommendation: Buy on Dip In the daily candlestick chart of HUDCO (Cash Segment), the stock showed a continuous decline last week. However, on Friday, it opened with a gap-down at ₹224.30, made a low of ₹222.25, and reversed sharply from that level — closing at ₹228.20 after hitting a high of ₹229.95. Notably, the stock respected the 220-day EMA support and closed above its 55-day EMA, indicating strong technical resilience. On Monday, HUDCO opened at ₹226.20, dipped to ₹220.80, and again recovered strongly to close at ₹229.80, marking an intraday high of ₹230.50. The stock continues to trade above its 55-day EMA and is currently consolidating within a tight range of ₹220–₹230. The daily chart structure suggests a bullish reversal pattern, with the stock forming higher lows and sustaining above key moving averages. Market sentiment appears supportive, and technical indicators are aligned with a potential upward breakout. 🔍 View: As long as HUDCO holds above the ₹220 support zone, the stock is likely to resume its uptrend and retest the ₹240 levels in the short term. ________________________________________ ✅ Recommendation Buy on dips around ₹225–₹226 🎯 Target: ₹240 🛡️ Stop Loss: ₹215 📈 Trend: Bullish | Timeframe: Short-Term