HBL Engineering tests ₹780 support after pullback

HBL Engineering is trading near ₹796 on the 4-hour chart after pulling back from the recent ₹850–₹860 swing high. Price has moved below the faster moving-average level near ₹806.21 and remains below the upper average around ₹827.11. This shows that the short-term trend has softened after a strong rally. HBLENGINE The MACD is still above the zero line, but the MACD line has moved below the signal line and the histogram has turned red. This indicates fading momentum rather than a confirmed trend reversal. The current correction will be healthy only if buyers protect the nearby support area. ₹780 is the immediate support to watch. Holding above this level can allow price to stabilise and attempt a recovery toward ₹806 first, followed by ₹827. A close above ₹827 would bring the recent high zone near ₹850 back into focus. If ₹780 breaks decisively, the next support lies around ₹760, followed by the prior base near ₹740. The current setup is corrective in the short term: moving averages are overhead and MACD momentum is weakening, but the broader recovery can remain intact while ₹780 holds.